Contingency Planning & Death/Disability Planning

Five Myths in Succession Planning

As most business owners will attest to, starting and running a business involves a combination of conviction/passion, perseverance, stress, and personal sacrifice. Owners invest a significant amount of themselves and capital into running these businesses, and as a result, most have a substantial portion of their net worth tied up in their business. The vast majority of owners/founders […]

Contingency Planning FAQ

What is a contingency plan? A contingency plan is an agreement between two or more advisors designed to protect your business in case of your death, disability (temporary or permanent), loss of license, and possibly even retirement (although most plans do not deal with succession planning). There are a variety of plan types to solve […]

Plan for the worst…Hope for the best

At some point in your career as a small business owner, you will find yourself either needing or wanting a partner (I use the term “partner” in the loosest sense of the term). Whether it is for the purposes of adding/retaining talent, expanding your business and talent pool, sharing expenses, or building a succession/exit plan, finding […]

Continuity Planning – A key to acquisition success?!

To start with, let’s define the term “Continuity Planning.” Continuity Planning is specifically referred to you creating a plan (a contract) that defines what to do with your business in case of your death or disability (temporary or permanent). Given the regulatory environment you exist within as a financial advisor, and the limitations that FINRA’s […]