The period leading up to your succession is not a time to slow down rather, work harder to increase the value of your business. And you have to make sure your team members are planning to stay on board through the transition
Almost everything that's written and presented on the topic of succession planning offers advice to advisors who are leaving the business. But the role of the successor can be difficult if both parties fail to plan properly
Many successful entrepreneurs reach a point in their careers at which they find themselves dogged by administrative duties while doing less and less of the work they love. You can overcome this funk, but you must be prepared to change
Advisors who did everything right in succession planning - starting early and grooming a successor — can be side-swiped by unpreventable events. The best advice is to be prepared and expect the unexpected
The quest for insight into what makes some advisors succeed when others fail is global. While there is no single answer, we know that top-performing advisors do some things that other advisors don't
The quest for insight into the habits and characteristics that make some advisors excel when others fail is global. While there is no magic bullet that will work for everyone, top-performing advisors share many best practices
More and more advisors are opting for intimate events that include a small group of clients. These gatherings focus on an area of interest that is shared by the advisor and his or her elite clients
Hiring a junior advisor early on with the intention that he or she will take over your business has many advantages. Your clients will be assured that their needs will be met after you retire
When an advisor in your branch is working below par, you can take steps to identify the root of the problem and possible corrective action. Bear in mind, however, that not all advisors share the same definition of "success"
Terms such as "vision," "strategy" and "tactics" all have a place in determining how you will reach your business goals. What's important is that you start your planning with a clear idea of what you want your business to become