The Succession Planning Mirage, and the Alternative
Few advisors have made actual succession plans, but there might be a very good reason for this.
Why You Should Use Team Bonuses Based on Firm Revenue
It would be a shame for advisors to confuse David Grau's and Michael Kitces' aversion to individual revenue-based bonuses with team bonuses.
2014 Broker-Dealers of the Year—Scenario 3: SEC Imposes Fiduciary Standard on Reps
How would top BDs handle this scenario? "In many ways," says Eric Schwartz of Cambridge, "we're in a fiduciary world already."
The Price of Dithering on Exit Planning
One of the hardest decisions for a business leader to make is when to exit.
Save the Advice Industry! Hire a Retirement-Plan Intern
Bringing a college student on board can boost your business in both the short and long term.
Assigning an Advisory Contract After a Merger: Ask Permission or Beg Forgiveness?
Clients must be consent to their contracts being assigned to another advisor. So what constitutes “consent” and what does “assigned” mean?
Alternative to a Spousal Lifetime Access Trust: One-Way Buy-Sell Deal
A one-way buy-sell agreement can ensure that a business-owning client’s dual goals—spousal income security and an orderly business transition—can be met.
5 Issues Advisors Must Consider When Selling Their Practices
Revenue multiples are just one component that advisors need to consider. Others include amount of down payment, taxes and earnouts.
ESOPs: A Tax-Advantaged Business Succession Plan
Employee stock ownership plans can serve a number of purposes for your small-business clients, including a solution for how to exit the business upon retirement.
3 Advisor Succession Planning Lessons From ‘Tommy Boy’: When Family Is Involved
A classic (?) Hollywood film offers some serious guidance for real-life advisor succession and continuity plans.