There has not been a more important issue in the financial services industry than the one of “Succession Planning”. Over the course of the next decade as many clients are relying on advice and direction to transition their life long plans, it is quite possible the advisor of record will no longer be available. The average age of the financial advisor in Canada continues to pose a problem that will ultimately affect client’s ability to get the advice they have come to expect, when they need it most. 100% of the clients expect that their advisor will provide the advice they need, when they need it and provide that someone is available to execute their plans . Without a Succession plan in place where does the liability lie?

There are 3 key elements to Succession Planning for advisors:

  1. Lifestyle Planning and identifying your successor
  2. Valuation of block
  3. Implementation

It will affect the entire distribution chain – Manufacturer, Distribution companies, advisors and most importantly the end client. Everyone may be thinking about it, but few are taking it seriously or acting with a sense of urgency. There are many questions you need to ask, in order to prepare to successfully transition your business. Do you know what questions to ask?

Advisor21 has developed an entire process to cover all elements to support Succession Planning – to find out more.
– Please Fill out this Form –

Let's Start the Discussion