One of the things that financial advisors will need to face when it comes to planning their retirement is when to talk to their clients. It’s a topic that acts like the elephant in the room; everyone knows it…
Last June, the Securities and Exchange Commission announced they were considering enacting a rule that all registered financial advisors would need to have a solid succession plan in place. The proposed rule would mandate succession planning for financial advisors, something…
With more than 18,000 financial advisors retiring in the next 5 years, you would think that more of them had a succession plan in place. According to a Charles Schwab study done in 2014, only 49% of RIAs “have…
When it comes to a financial advisor’s retirement, one of the most pressing issues on their mind is going to be the welfare of their clients. As an independent financial advisor, you spent years building up your business and…
Many financial advisors who are getting ready for retirement plan on selling their client book and/or their financial advising business as a whole. Fortunately, it’s a seller’s market in the financial advising industry at the moment. Up…
One of the things many financial advisors cite as a hurdle in their succession planning is finding the right person to take over for them. Whether they want to take someone on with the intent of selling them their book…
There are a lot of advantages to being an independent financial advisor. You get to pick and choose your clients. You are completely in charge of how you run your business. You can set your hours (although 24/7 hours…
Sometimes it’s hard to think about your own retirement when you are helping so many of your clients plan for their own. It’s one of the dangerous traps that many independent financial advisors fall into during their later…
When it comes to planning their retirement, many financial advisors choose to sell their business and turn their book of clients over to another advisor. Within this scenario, there are numerous exit strategies you can use in order to end…
How many of the financial advisors that you know are planning on retiring in the next five or ten years? Chances are you know at least one, and it might even be you. According to research firm Cerulli Associates, Inc…
Planning for retirement isn’t really an easy task for anyone, no matter what business they might be in. As a financial advisor, you know that better than anyone. You’ve probably spent your career helping others plan for their…
Financial advisors face a number of unique obstacles when it comes to planning their retirement. Handing over their clients’ portfolios to someone new is much easier said than done; they’ve built a relationship with their clients that need to…
