Virtual Village Services

Generation X, Y, and Who

While no one wants to talk about death or taxes, succession planning is a close 3rd place.  The one interesting statistic is that if you ask your clients, they are very interested in the plan you have in place to ensure they are taken care of in case something happens to you.   It doesn’t matter what age you are, you should have a plan to ensure your clients know that their data, the management of their money, and their goals and objectives are adequately conveyed to someone who can step in and carry the torch.
   
One benefit of the Network is that we have many advisors who have personal experience with transition planning and many more who can partner with you if you need a plan. 

If your clients are asking if you are going to retire the same time they are, you better start talking to us so we can help you with your plan. 

Below are some of the initial questions to answer as you think about transition or succession:
1)  Do you want to stay involved in the business or leave it completely?
2)  If you want to stay engaged, at what level will you continue to participate?
    a.  Money Management only?
    b.  Meeting with clients only?
    c.  Modular planning?
    d.  Team level planning?
3)  How do you want to transition?
    a.  Complete sale of the entire business?
    b.  Sell part of the book?
    c.  Merge with another firm?
4)  Have you built your business to sell?
    a.  Simplified Technology?
    b.  Single custodian?
    c.  Limited number of products?
    d.  Mainstream CRM and Portfolio Reporting tools?

• Succession Planning Binder (pdf)

If you have any questions on Succession or Transition Planning, please call Daxs Stadjuhar at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .