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Succession, Continuity and Retirement Planning

Avoiding the Succession Cliff: Potential Paths for Soon-to-Retire Advisors

Avoiding the Succession Cliff: Potential Paths for Soon-to-Retire Advisors

By Mindy Diamond, Forbes.com – Tenured advisors have invested a lifetime in building a business with real value, yet many don’t have a succession plan. Why the delay? And what are their options?

Next Gen Successors: You’re Not as Stuck as You Think You Are

Next Gen Successors: You’re Not as Stuck as You Think You Are

By Mindy Diamond, WealthManagement.com – Those who are having second thoughts about signing on as heir apparent to their senior advisor’s book shouldn’t feel “hopeless,” according to Tom Lewis, Certified Civil Trial Attorney at Stevens & Lee in Princeton, NJ.

The Next Gen Dilemma: 5 Unique Realities Faced by Successors

The Next Gen Dilemma: 5 Unique Realities Faced by Successors

By Jason Diamond, WealthManaement.com – The path for next gen advisors can be wrought with some pitfalls, yet when walked with confidence and flexibility, it can be immensely rewarding.

Stuck in Place: How Merrill’s CTP Has Senior Advisors Right Where the Firm Wants Them

Stuck in Place: How Merrill’s CTP Has Senior Advisors Right Where the Firm Wants Them

By Mindy Diamond, WealthManagement.com – Financial advisors who opted-in to Merrill’s CTP (Client Transition Program) are finding they are stuck in the ironclad agreement, bound by a strict non-compete and clawbacks. It’s a cautionary tale for advisors who have yet to sign on.

Next Gen Advisors Are Questioning Whether “Inheriting a Book” is Really Worth it

Next Gen Advisors Are Questioning Whether “Inheriting a Book” is Really Worth it

By Deborah Aronson, WealthManagement.com – Wirehouse retire-in-place or sunset programs offer senior financial advisors access to their firms’ built-in succession plans and a pathway to unlocking liquidity, while next gen advisors stand to grow their asset base. But rather than just sign on the dotted line, next gen inheritors (and their senior partners) are hitting the pause button and striving to be more educated consumers.

5 Lessons Learned in Our Own Succession Planning Process

5 Lessons Learned in Our Own Succession Planning Process

By Mindy Diamond, Forbes.com – Almost every business journey starts the same way: An ambitious entrepreneur dreams of building an enterprise that will stand the test of time. However, I’ve seen far too many leaders — particularly those in the wealth management space — achieve their dreams of building a successful business, only to recognize the need to create a succession plan far too late in their journey. It doesn’t have to be this way.

Successful independents are finding it’s lonely at the top when it comes to succession options

Successful independents are finding it’s lonely at the top when it comes to succession options

By Louis Diamond, InvestmentNews – An interesting trend is developing amongst the largest and most successful independent broker dealer (IBD) practices. It’s a high-class problem to have—one that we see at every IBD when the top 5–10% of individual practices (those typically generating in excess of $3-5mm of GDC) reach a point where they begin thinking about their end game and how they will monetize their life’s work. They are essentially “growing themselves out of the market.” That is, their practices have reached a point in which there is not a viable successor within their broker dealer network.

Merrill’s Enhanced CTP: What it Means for Advisors, Their Next Gen and Clients [Video]

Merrill’s Enhanced CTP: What it Means for Advisors, Their Next Gen and Clients [Video]

By Mindy Diamond – With the anticipated announcement of an enhanced CTP, Mindy Diamond spoke to Merrill breakaway executive Vince Fertitta for his take on what it could mean for advisors, next gen and clients.

“I’m too old to move, let alone go independent!”

“I’m too old to move, let alone go independent!”

By Mindy Diamond – Certainly, none of us are getting any younger—and no one wants to make their life more challenging as they edge closer to what could be the cusp of their career.

When Faced with a “Retention Deal,” Merrill Advisors Will Have 3 Options

When Faced with a “Retention Deal,” Merrill Advisors Will Have 3 Options

By Louis Diamond – Conversations throughout the wealth management industry have escalated around the topic of “enhanced” sunset programs with talk that the advisor elite at Merrill Lynch will be offered a “retention deal” in the near future.

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