Industry Brief

Succession Planning: Five Key Considerations

Mergers and acquisitions in the wealth management industry broke records in 2021. Fueling much of that activity is the accelerated retirement of advisory firm founders. Yet among those retiring advisors, 26% have no succession plan.

If you’ve been working to build your business for many years, you want to ensure its value endures after you step away from the business. A succession plan is one of the most important steps you can take to secure your firm, its employees and clients for the future and allow you to take a worry-free, richly deserved retirement. So whether you plan to retire within the next few years or include a partner to help carry on your legacy, here are some key considerations to bear in mind.