 |
 |
 |
 |
 |
 |
Unprepared for Succession
Advisors need to stop putting off planning their futures
A new study by TD Ameritrade shows that 60% of advisors do not have a succession plan.
Read Mike Byrnes’s article to see more statistics and to:
- Understand why having a succession plan is important
- Be aware of the risks of not being prepared
- Get insight into how to pick a successor
- Learn about the next generations of advisors
Contact Byrnes Consulting if you need help planning your business and putting a successor strategy in place.
Please share with your social groups. Thanks!
At first I thought this article was addressing preparation for the transition from wirehouse to RIA.
I know from experience that most break away’s are not properly prepared and unfortunately leave a lot of assets on the table back at their old BD. The task of educating a potential recruit to break away becomes easier if they learn how to prepare properly.
If more emphasis was put on this part of the process we could all get more advisors to successfully transition, bring more of their AUM and refer others to follow.
I have a draft of a white paper I would gladly share (You would have to refine it and it would be nice to get some credit for authoring it) outlining the details of how to successfully prepare to break away to independence.