6 Succession Planning Tips Every Financial Advisor Needs to Know

Photo by: kiplinger

6. Leave enough time. Most heads of planning firms initially hope to transition their businesses to their employees. But they frequently don't allow themselves enough time to effectively make that transfer. Slater recommends leaving at least a five-year window. And there's nothing wrong with starting much earlier. As counterintuitive as it sounds, those whose businesses are in the early growth stages should start to envision ... more 

Photo by: kiplinger

6. Leave enough time. Most heads of planning firms initially hope to transition their businesses to their employees. But they frequently don't allow themselves enough time to effectively make that transfer. Slater recommends leaving at least a five-year window. And there's nothing wrong with starting much earlier. As counterintuitive as it sounds, those whose businesses are in the early growth stages should start to envision at least the broad outlines of their exit strategy.

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