Preparing for a Massive Retirement Shift in Financial Advisory
Succession planning is essential but frequently ignored in the financial advice industry. A recent report from Cerulli reveals that nearly 40% of advisors, managing over $11 trillion in assets, are set to retire in the next ten years. This finding highlights the urgent need for effective succession strategies.
Advisors lacking a solid succession plan risk diminishing the value of their established business. In contrast, strategic planning can preserve and even enhance that value. Cetera has been instrumental in facilitating transitions and acquisitions, offering advisors the necessary tools to navigate both predictable and unexpected retirements.
Effective succession planning guarantees stability, whether due to planned retirements or unforeseen incidents like disability. This approach protects the advisor’s legacy as well as their family’s financial future.
Finsum: Well-crafted succession plans focus on choice, flexibility, timing, and control, ensuring advisors can transition smoothly.
- retirement
- succession planning
- client management
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
