Jon Wax, president and CEO of Waller and Wax Advisors, knows a thing or two about older advisors’ succession planning from the buyer’s perspective after acquiring his mother Laura Waller’s practice in 2007. The key to doing it successfully, he says, is to blur the line between where the exiting advisor ends and where the new one starts.

“You’re not just blending a business, you’re blending philosophies,” he says. “That’s why it’s important the person leaving sticks around for a to help transition the clients.”

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access