Jump-start succession planning by broadening advisers’ perspectives

The goal behind everything we do at the Financial Services Institute is strengthening and protecting the independent-financial-services industry. Most of the time, that means communicating with legislators and regulators, but often it means facilitating conversations among our members on critical topics.

One subject we have worked to call attention to over the past several years is the much-discussed shortfall in succession planning for independent financial advisers. According to our polling, only 41% of our adviser members have a succession plan in place. Some other sources have estimated that the number may be as low as 20% for all advisers nationwide.

In order for our industry to maintain the momentum it has built over the past few decades, we must work together to ensure advisers have the resources and information they need to develop and execute strong succession plans. This is not only a crucial priority for today’s advisers and firms, but for their clients and the next generation of advisers, as well.

 

Read more in InvestmentNews here

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