Succession planning

“Owners of advisory firms don’t realize there’s a new school approach to succession planning,” – David Grau Jr., president and CEO of Succession Resource Group.

"If I said I had worked for AT&T for 33 years, anybody would ask me, 'Well, when are you going to retire?' But our industry is unique. It's not like a utility company, where after 30 or 35 years, you're done," says Larry Palmer, an advisor at Morgan Stanley.

A new book by advisors for advisors sheds light on transition issues facing firm principals and their successors.

How one firm helps advisors map out a plan 10 years before retirement.

Advisor Hugh Johnson has a simple focus: provide near-market performance with less volatility and risk.

“Why should a really good smaller firm that’s growing have a lower multiple than a big firm that’s crappy?” asks Peter Raimondi, president of Boston Private Wealth.

The primary buyers of advisory firms are RIAs, banks and roll-up companies.

While gifting can have important benefits, not every client will be in favor of it, no matter how many good reasons exist.

Maximizing savings in tax-deferred accounts may lead to an abrupt increase later in both income and income taxes. Here are a couple of ways to help clients steer clear.

As new state regulations loom, experts caution that examiners already expect advisors to have a business continuity and succession plan in place.

Focus Financial expand into Southeast with family-owned firm that has $600 million in AUM but no succession solution.

The pace of RIA dealmaking has leveled off over the last few years, with no increase in the number of deals over the previous year and aggregate AUM acquired ticking up only slightly to $47.4B from $43.7B, according to new data from Schwab Advisor Services.

A reality TV episode on a bakery's succession plan hits uncomfortably close to home for a wealth management pro.

This is the beginning of a relationship, so the process should more closely resemble a courtship begun on eHarmony than a purchase made via Craigslist.

For Victoria Collins and Jennifer Cagle, a succession plan was complicated by a pending public offering. One kept a valuable equity stake, the other got the client base.

The CFP Board has launched a new online portal intended to serve as a resource for people looking to start a career in financial planning.

For buyers, the cost of funds is low now. For sellers, valuations are rich. Cashing out now is an “easy case to make," says AssetMark EVP Michael Abelson. "Or they can keep riding the wave."

At TCI Wealth Management, Bob Swift wanted a succession plan that would let him distribute ownership but keep working. Here's the solution he developed.

Emphasis at the Women Advisors Forum in San Francisco is on smart strategies advisors can use to build their practices and support women in the industry.