FPT In the News

Financial Planning Association, FP Transitions Partner to Support Next Generation of Financial Planners

Posted by FP Transitions on April 25, 2017

LAKE OSWEGO, Ore. --The Financial Planning Association® (FPA®) is pleased to announce that FP Transitions is now FPA’s “Official Partner of the Next Generation of Financial Planners” in an effort to support young professionals on their career journeys in the financial planning profession.

This new partnership will leverage FP Transitions’ experience and thought leadership for the benefit of young professionals and financial planning firms looking to build plans for the eventual transition of firm ownership. With thousands of young Certified Financial Planner™ (CFP®) professionals among its member base and a vibrant NexGen community, there is an opportunity to help support members and firms that desire to establish an effective, efficient succession plan.

“We are pleased to have FP Transitions join FPA as a key partner in supporting our members and their desire for a seamless transition of their firms to the next generation of firm owners,” says FPA CEO/Executive Director Lauren M. Schadle, CAE. “Their support and contributions will directly benefit our members by providing the necessary knowledge and resources to help our young members become firm owners.”

FP Transitions has developed strategies to solve the succession problem for owners of financial planning practices; the next step in supporting the founders cultivating the next generation.

“We’ve worked with RIAs expanding ownership to 20 new partners, father-daughter teams, and everything in between,” says Brad Bueermann, CEO of FP Transitions. “We designed the strategies and solved the financing issue, now the last thing is building the talent. Over two-thirds of our succession clients have executed their plan, transforming over 700 next generation planners into business owners. The greatest challenge for owners of successful financial planning firms is finding qualified next generation leadership. We want to make sure professionals entering the industry understand this opportunity and are prepared to act on it. Partnering with FPA was a natural decision to deliver that message.”

Since introducing “The Lifestyle Succession Plan” strategy, first in a 2012 white paper and eventually detailed in the 2014 book “Succession Planning for Financial Advisors: Building an Enduring Business,” FP Transitions has worked with more than 370 firms to develop a succession plan. The process explores the feasibility of an internal transition and involves cash flow analysis, compensation modeling, and corporate structure. The result is a detailed recommendation for the business moving forward.

“Creating sustainable businesses with the next generation of financial planners is vital for the future of this profession,” added Bueermann.

The partnership involves the integration of FP Transitions content and thought leadership across FPA and within the FPA NexGen community and will include sponsorship of the 2017 FPA Annual Retreat, the FPA NexGen Gathering, the FPA NexGen Lounge at the 2017 FPA Annual Conference, and a series of columns to be published in the award-winning, peer-reviewed Journal of Financial Planning.

About the Financial Planning Association

The Financial Planning Association® (FPA®) is the principal professional organization for Certified Financial Planner™ (CFP®) professionals, educators, financial services professionals and students who seek advancement in a growing, dynamic profession. Through a collaborative effort to provide more than 23,000 members with OneConnection™ to tools and resources for professional development, business success, advocacy and community, FPA is the indispensable force in the advancement of today’s CFP® professional. Learn more about FPA at OneFPA.org and follow on Twitter at twitter.com/fpassociation.

About FP Transitions

Based in Lake Oswego, Oregon, FP Transitions is the nation’s leading provider of valuation, succession planning, and M&A services for financial advisors. The team of consultants includes analysts, legal professionals, and business coaches, working together to provide comprehensive solutions for advisors. Founded in 1999, FP Transitions launched and continues to operate the largest fully-supported marketplace for buying and selling financial practices.

Topics: Press Releases