A succession plan is best defined as a professional, written plan designed to build on top of an existing practice or business and to seamlessly and gradually transition ownership, leadership, and growth responsibilities to the next generation of advisors. The goal is sustainability, and it is accomplished through a structural framework that carefully coordinates the changing roles of the founder(s) and the successor team over many years. It is designed to support the evolution of business skills from entrepreneur, to shareholder, to CEO, to mentor. Download the Lifestyle Succession Plan white paper to find out how you can begin this vital process.
