From the November 2008 issue of Investment Advisor • Subscribe!

Transition Questions

Sidebar to Feature article: "Hitting the Milestones"

nce your RIA is an established enterprise, a new set of questions needs to be addressed, including:

? What is your timeframe for retirement and how would you like to transition out of the business? Would you like to adjust your hours over time so you can maintain key client relationships that you particularly enjoy? Would you like to continue helping with the management of the firm?

? Are existing employees ready to assume key leadership roles or do they need more coaching and development? Do they understand the path to partnership?

? Are clients comfortable discussing their financial needs with others at the firm? How will you communicate changes to them over time?

? How will you extract value from the firm that you have established over time without burdening the next generation of leadership?

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