Legacy Builders
Legacy Builders podcast is for independent advisors who want more than just a successful practice — they want to build, live, and leave a legacy for their clients, their team, and their families. From accelerating growth and developing NextGen talent, to enhancing client service and planning for succession, every episode offers both big-picture strategy and practical, actionable advice. Designed to help advisors make intentional, values-driven decisions, the show provides the insights and tools you need to design not only a stronger business, but also a more meaningful career. Content provided by Advisor Legacy and podcasts generated using...Show more
All Episodes
The Cost of Inaction: Why Financial Advisors Must Prioritize Continuity Planning
In this episode of Legacy Builders, I dive into the critical yet often overlooked topic of continuity planning for financial advisors. Despite building robust plans for clients, many advisors neglect to secure their own business's future. I explore the catastrophic risks of inaction, such as equity loss, client departures, and family burdens, using insights from the 2025 white paper by Brian Doherty. We discuss the essential elements of a solid continuity plan, including successor selection, valuation, legal frameworks, communication strategies, and regular reviews. By planning proactively, advisors can ensure their legacy endures, providing peace of mind and security for clients, family, and staff. Join me as we unpack how to transform this daunting task into a strategic advantage, safeguarding what you've worked so hard to build.
10 Steps to Prepare to Sell Your Financial Practice
In this episode of Legacy Builders, I take a deep dive into the critical process of preparing to sell your financial practice. Selling your practice is often the largest transaction you'll ever undertake, making thorough preparation essential. I outline Advisor Legacy's 10-step process, beginning with defining your personal "why" for selling and understanding your practice's true value through professional valuation. We explore the importance of crafting your unique story, managing client relationships, and mitigating risks during the transition. Additionally, I discuss the significance of documenting your business operations and maintaining strong communication with clients. Join me as I guide you through these vital steps to ensure a smooth transition and maximize the value of your hard work.
10 Steps to Practice Profitability and Sustainable Growth
In this episode of Legacy Builders, I explore the intricate balance between growth and profitability in financial practices. The episode, titled "10 Steps to Practice Profitability and Sustainable Growth," challenges the common belief that growth automatically leads to increased profits. I discuss the paradox of how expanding a practice can actually decrease efficiency and shrink profit margins if not managed strategically. By distilling insights from expert sources, I present 10 actionable steps to optimize profitability while maintaining sustainable growth. From understanding financial metrics and setting clear targets to focusing on quality over quantity in client growth and leveraging outsourcing, this episode provides a comprehensive roadmap for financial advisors. Join me as I delve into strategic resource allocation and proactive financial management to build a truly robust and valuable practice for the future.
Sell and Stay: Monetizing Your Practice Before Retirement
In this episode of Legacy Builders, I delve deep into the intricacies of practice succession with a focus on the "Sell and Stay" strategy. As many advisors approach retirement, understanding how to monetize your practice before stepping away is vital. I discuss key insights from a pivotal white paper that outlines the risks of delaying succession planning, emphasizing the urgency of acting now to protect your practice's future value. We explore various strategies for selling equity while remaining involved in client relationships, highlighting the benefits of financial de-risking, quality of life improvements, and favorable tax outcomes. Join me as we uncover actionable steps you can take to secure your legacy and ensure a smooth transition.