How RIA Owners Can Plan a Successful Internal Succession
Internal succession planning for an RIA means preparing an existing partner, associate advisor, or NextGen professional to assume ownership and...
Know what your business is worth
M&A Guidance and Deal Support
Coaching and Operations
Continuity, Legal, and Lending
2 min read
Nicholas “Nick” Tucker is Visionary & Co-Owner of Advisor Legacy with more than two decades in the financial services industry. Nick partners with advisors during successions and acquisitions to architect client communication plans, align service models, and build the operational systems that sustain growth after a deal closes. His writing focuses on practical playbooks for client handoffs, stakeholder messaging, onboarding workflows, and KPI tracking that protects revenue and experience thr...
To compete with robo advisors, changing business models, and other market challengers, advisors need to deliver the services clients value most. Over the past five years the demand for both financial advice and financial plans have skyrocketed. Yet only about half of advisors provide any type of formal financial planning. This despite the fact that financial planning services increase both client loyalty and wallet share.
Why it matters: Higher netflows per household group generates higher revenue per client. The result is a more profitable practice.
Getting It Right: The secret to realizing the benefits of offering financial planning is to have a consistent, repeatable, and efficient process. This is achieved by:
Internal succession planning for an RIA means preparing an existing partner, associate advisor, or NextGen professional to assume ownership and...
A financial advisor succession planning checklist should cover the decisions that need to be resolved before ownership, leadership, and client...
Choosing a successor for a financial advisory practice requires evaluating whether the candidate can earn client trust, lead the team, make sound...