Succession planning remains a critical yet often overlooked issue in the financial advice sector, with a substantial portion of advisors nearing retirement. A recent Cerulli report highlights that nearly 40% of advisors, representing over $11 trillion in assets, plan to retire within the next decade, underscoring the urgency for succession strategies.
Advisors without a clear plan risk devaluing the business they’ve built, while thoughtful succession planning can help protect and even enhance this value. Cetera has assisted in numerous advisor transitions and acquisitions, providing advisors with resources to prepare for both anticipated and unexpected exits.
Proper succession planning ensures continuity, whether through expected retirement or unexpected events like disability, safeguarding both the advisor's legacy and family’s future.
Finsum: Strategic succession plans prioritize choice, flexibility, timing, and control, helping advisors smoothly transition.
- retirement
- succession planning
- client management
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