You’ve spent a career helping clients prepare for retirement. But have you taken the time to think about your own? Industry-wide, the shockwaves are forthcoming:
When developing a succession plan for your business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to family members, co-owners, employees, or an outside party? The key is to pick the best plan for your circumstances and objectives and to seek help from financial and legal advisors to carry out this plan.
Without a succession plan, not only do advisors leave clients feeling vulnerable, but they also miss potentially beneficial opportunities. But when handled with thought and foresight, an advisor’s retirement can maintain a lifelong professional reputation, do right by clients and colleagues, and even generate post-retirement income.
Secure Asset Management can help you and/or your clients with attractive succession options for advisors approaching retirement or for those looking to implement strategies to protect their firm due to a catastrophic event. Schedule a call to speak with Brian Dudley or send an email to discuss your firm specifically and the options available.
Source: FA Magazine, 37% Of Financial Advisors Expected To Retire Over Next Decade
Investmentnews.com. “One-third of advisors plan to exit business within a decade”
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