4 Steps to Choosing the Right Succession Plan

As you run your financial advisory practice, in the back of your mind you realize you’re building a valuable business. But do you know just how valuable? You could be pleasantly surprised. Market valuations of RIAs have roughly doubled over the past five years thanks to strong M&A demand from large-scale advisory practices, consolidators and …

 You tell your clients they shouldn’t leave retirement planning to the last minute. The same applies to your business – specifically, with succession planning for financial advisors. Ideally, when you leave, you smoothly transition your clients and staff to another advisor who fairly compensates you for the book of business. But this process doesn’t …

 The RIA landscape is enjoying historic valuations as bidding on these firms by other RIAs, broker-dealers, banks and private equity firms drives up prices. The interest is understandable. McKinsey reports RIAs have achieved 12% annual growth in assets since 2016, making them the fastest-growing category in the U.S. wealth management market. At Carson Group, …