July 1, 2011

Succession Planning--In Case You Missed It

In our June 2011 issue, we asked the leaders of the nation’s top broker-dealers about issues relevant to their business and their reps. Recruiting expert Jon Henschen, president of Henschen & Associates, added his commentary. It will come as no surprise that succession planning was top of mind.

What issues do you feel are the most challenging to individual reps over the long term (next three to five years and beyond)?

Broker-dealers' most challenging issues

“Succession plans are going to be the standout going forward because of our aging rep force,” Henschen explains. “The difficulty with succession planning is that many variables need to come together, e.g., geography, matching investment style between the buyer and seller, agreement on buy-out terms, potential need for change of broker-dealer and personality. Third-party firms such as FP Transitions make it their job to tackle the complexities of buying or selling books of business with many of the broker-dealers networked with their services.”

>> Return to "Finding Success in Succession Planning"

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