Asking Your Boss for Ownership Asking Your Boss for Ownership

Broaching the subject of ownership is a growing concern for young advisors, but it’s also an intimidating one. The ask is a big one, and it requires preparation. A young advisor should come to the conversation with clear achievements and goals that align with the business. This post explores the dilemma of asking for ownership and offers practical advice on how to accomplish the task and be more confident in the ask.

Next Gen Talent   |   Internal Succession


Succession and the Family Business - Client Success Story Succession & the Family Business - Client Success Story

Choosing a successor who is a part of your family doesn’t mean the process becomes 10 times easier. It requires the same careful planning to ensure ownership of the business ends up in the right hands. Tom and Paul Morrone have always been a close father / son unit, but that didn’t mean that Paul wouldautomatically take over one day. Tom instisted that Paul earn his ownership.

Internal Succession  |   Next Gen Talent 


Legacy Financial Strategies - The Growth Machine Client Success Story - Legacy Financial Strategies

Michael Lutz understood that acquisition was a viable and smart path for growing his business. He wasn’t just looking to gobble up as many practices as he could, however. He also understood that if he chose his targets strategically, he could not only grow his business, but he could ensure its legacy by pairing acquisition with succession as a vehicle to recruit and retain Generation Two talent to his firm.

Internal Succession  |   Business Growth  |  Next Gen Talent


Hoffman Lawrence Testimonial Client Success Story - Hoffman Financial Resources

Greg Hoffman found the best match for his business when he added Ross Lawrence to his team. Ross shared Greg’s commitment to the community and the people of Nevada, MO. Three years later they embarked on their succession planning journey with FP Transitions. Valuation in hand and succession options laid out, Ross and Greg chose the accelerated path with the help of bank financing.

Internal Succession  |   Business Growth  |  Next Gen Talent


3 Job Interview Questions Next Generation Advisors Should be Asking

During a job interview with a potential firm you will have the opportunity to ask your own questions about the business and the team. Asking the right questions shows you are intelligent and engaged, in addition to providing you with critical information to help you make the right choice for your career.

Next Gen


Life After Advising - Roundtable Talk Roundtable Talk - Life After Advising
with guest Colleen Jordan Hallinan, Qii Consulting

In this first in a series of special Roundtable Talks, Colleen talks about her own journey to life after advising, and how finding the right people to take over the business made all the difference. 

Internal Succession   |   Business Growth  |   Next Generation


Advanced Considerations for Succession and Equity Advanced Considerations for Succession & Equity

In this webcast, VP Eric Leeper, CFA explores the concept of equity and how it fits into your business plan. We'll show you how adding equity compensation to your structure benefits everyone, and supports an enterprise that will continue to work for you long after the traditional retirement date.

Compensation  |   Internal Succession  |  Business Growth


Building the Team - Roundtable Talk w/ Colleen Jordan Hallinan Roundtable Talk - Building the Team
with guest Colleen Jordan Hallinan, Qii Consulting

In this second Roundtable Talk with Colleen Jordan Hallinan of Qii Consulting, she shares ways to identify different personality types and work styles. Harnessing each individual's unique strengths creates a team that promotes the success of the business as a whole.

Internal Succession   |   Business Growth  |   Next Generation


Creating an Internal Ownership Track
EMS Exclusive Resource

Recruiting and developing a skilled team of advisors can be a daunting challenge for the owner of a financial advisory practice. Doing that, however, is only half the battle. Once you’ve chosen and trained your next generation how do you hold on to them? How do you keep them from opening up shop across the street? Create an ownership track and make the opportunity available to the best on your team.

Internal Succession  |   Compensation   |   Business Growth   |   Entity & Business Structure


Grants of Stock to Key Employees
EMS Exclusive Resource

It may be tempting to think that simply granting stock or ownership to a key employee would be an easy way to achieve succession. But the tax implications and potential issues this causes should be carefully considered.

Internal Succession  |   Compensation   |   Tax & Regulatory Issues


Succession Planning for Financial Advisors Book Succession Planning for Financial Advisors

Our book, Succession Planning for Financial Advisors, written by our President and Founder, David Grau Sr., goes indepth into internal succession planning.  It answers the question: How can a formal succession plan perpetuate business growth and income streams beyond an owner's lifetime

Internal Succession 


Merger White Paper Mergers: A Focus on the "M" in "M&A"

Mergers create an opportunity for two or more practices to come together, combining staff, strengths, and cash flows, expanding virtually overnight into a larger, stronger business. In this white paper you will discover how different mergers can work for you plus a comprehensive strategy for executing a successful merger.

Business Growth  |   Acquisition


Book Review: Successful Hiring for Financial Planners BOOK REVIEW: Successful Hiring for Financial Planners by Caleb Brown, CFP

FPT Elite Client Consultant Kem Taylor shares her thoughts on Caleb Brown’s Book Successful Hiring for Financial Planners: The Human Capital Advantage. She highlights the most impactful sections and how advisor/owners can best utilize Caleb’s advice to grow their own staff, and with it, the business as a whole.

Next Gen   |  Business Growth   |   Internal Succession


Restructuring Ownership Level Compensation
Succession Management Exclusive Resource

Correctly structuring compensation at the ownership level is a critical element to building a business of enduring and transferable value. At this level, the question isn’t “how much” an owner should be paid, but “how” an owner should be paid. There should be two levels: 1) salary / wages for work performed; and 2) profits tied to one's investment in the business. Keeping these compensation levels separate is important for a stable business structure and fair value paid/earned when executing evental transition plans.

Internal Succession  |   Compensation 


Bates4.pngEvery Merger Is Unique 
EMS Exclusive Roundtable Talk

Our Rod Boutin, J.D. and Ericka Langone, J.D. discuss the uniqueness of each merger transaction using three real life examples from the FP Transitions portfolio. The examples range from a complex 3-way, multi-owner consolidation, to a more common combining of efficiencies and resources, to a planned merger as continuity for two small businesses. 

Business Growth   |   Deal Structure & Documentation


Course Corrections for Your Succession Plan Course Corrections for Your Succession Plan

Building a sustainable business and incorporating new talent into your ownership structure is a process that takes planning and monitoring. With so many moving parts including multiple parties and expectations, the process is bound to see some bumps. A course correction can come in the form of accelerating your plan, incorporating more owners, or, in some cases, falling back to Plan B. This post focuses on how to prepare for these situations and how to change course quickly, if needed, to preserve realized business value.

Internal Succession   |  External Sale   |   Next Gen


Financing to Accelerate Your Succession Plan

A buy-out loan can accelerate your exit plan, while a partial buy-in loan can facilitate your staged-succession. Both are designed specifically for financial advisor to reduce risk by moving the financing responsibility from seller to bank.

Internal Succession   |   Deal Structure & Documentation


Succession Planning for the Family Business
EMS Exclusive Resource

Family businesses have a unique set of challenges, the best way to turn these hurdles into advantages is through preparation, proper structures, and ultimately keeping the interests of the business and the clients top of mind when choosing the next leader of your business.

Internal Succession   |   Next Gen


MergerBeyondNumbers_thumb Roundtable Talk - Mergers: Prepping Beyond the Numbers

Experts Rod Boutin, JD and Ericka Langone, JD explore preparation beyond determining value. They highlight the importance of reconciling the expectations and goals of all parties, the considerations that may warrant an assigned premium share value, and the benefits of a holistic approach to the entire merger process.

Business Growth    |   Next Gen    |   Entity & Business Structure


Revenue Splits are NOT a Succession Plan Revenue Splits : Not a Succession Plan

Even with all the modern tools of practice valuations and equity management solutions, some financial advisors are still choosing to use revenue splits as a compensation structure and succession plan. As an independent financial advisory owner, this is a poor and shortsighted business decision for several reasons.

Internal Succession   |   Entity & Business Structure  |   Compensation


Bates4.pngGovernance & Control for Shifting Ownership 
EMS Exclusive Roundtable Talk

FPT transactions experts Rod Boutin, JD and Ericka Langone, JD discuss common areas of governance and control that many owners (existing and future) have concerns about during any (re)structuring or additions to the ownership of a financial services business.

Deal Structure & Documentation  |   Entity & Business Structure

Organization Growth - Client Success Story (Cornerstone Wealth) Organizational Growth - Client Success Story

Unexpected circumstances forced Floyd to quickly reduce his work hours at his firm, Cornerstone Wealth, from 45 to 20 hrs a week. Too young to retire, Floyd incorporated existing staff into the ownership structure to ensure his business not only survived, but thrived. In this client success story the team discusses the transition and their new ownership mentality.

Internal Succession  |  Business Growth  |  Entity & Business Structure


Bates4.pngRoundtable Talk - Benefits of Proper Entity Structure
EMS Exclusive Resource

FPT Experts Ericka Langone, JD and Eric Fettig discuss the benefits of proper entity, including liability protections, governance for business leadership and operations, structure and value for future ownership, and tax treatments that make sense for your specific enterprise.

Entity & Business Structure   |   Next Gen Tax & Regulatory Issues


RT2-Robo.png Roundtable Talk - Robo Advisors
EMS Exclusive Resource

Marcus Hagood and Douglas Kreft, focus on the opportunities robo advisors present for financial advisors to emphasize their value proposition and expand their client bases. With investment management technology at investors’ fingertips, are we seeing a precursor of a larger threat to advisor services in coming years?

Business Growth    |   Next Gen    |   Roundtable Talks