Building a Lasting Legacy Through Equity Sharing with Brian Cochran

Turning Ownership Into Opportunity For Brian Cochran’s second-generation advisory firm, the path toward long-term success required more than just organic growth; it required intentional career-building for continued legacy and internal succession. After assuming full ownership of the business, the firm’s new leader recognized a critical opportunity: transform equity participation from a future concept into a tangible, motivating force for key team members. Although Brian’s firm already had a robust benefits structure, its principal understood that true retention goes beyond compensation. The next step was to create a deeper sense of belonging and shared purpose. The challenge wasn’t just deciding if to share equity — it was determining how to do it in a way that aligned with his vision for the firm. The owner knew that opening the door to ownership could be transformative, but it also carried risks. The firm wanted to reward and retain high performers without compromising financial stability or creating future complications. Among the key questions they faced: Timing plays a key role in shaping both value and price. A valuation is a recurring tool that helps you plan proactively—identifying opportunities to strengthen your business and enhance value before you need to act. In contrast, price happens once, when your firm, finances, and personal goals are all aligned and ready for transition. Recognizing that the stakes were high, the firm sought expert guidance to design a plan that would balance growth, fairness, and sustainability. The Turning Point: Choosing Succession Resource Group Brian Cochran turned to SRG’s Equity Sharing team, led by Julia Sexton, CVA®, Director of Strategic Organization Planning. The decision to partner with SRG was rooted in one defining principle: expertise matters. What impressed Brian most was SRG’s ability to ask the right questions. Rather than offering prepackaged solutions, SRG invested the time to deeply understand the firm’s structure, team culture, and long-term vision. Each conversation helped Brian’s firm refine its objectives and uncover what truly made his practice unique. The Discovery Process: Defining the Dual Goals As the project unfolded, SRG helped Brian Cochran articulate two distinct yet complementary goals: The Strategy Through deep discussion and scenario modeling, SRG helped Brian’s firm recognize that these objectives could be met through a two-part strategy. This flexible dual-plan design enabled Brian’s firm to reward both tenure and potential, ensuring that no key contributor was left out of the long-term vision. The Solution: Designing a Balanced and Sustainable Plan Led by Julia Sexton, CVA®, Director of Strategic Organization Planning, SRG developed a personalized plan that aligned with the firm’s culture and goals. The resulting Equity Sharing Plan provided a balanced framework that: Key Features of the Plan Implementation: A Seamless Process with Expert Guidance One of Brian’s early concerns was how complex and intimidating the process might be. SRG’s structured, hands-on approach quickly alleviated those fears. SRG coordinated directly with the firm’s tax advisor, ensuring alignment at every stage. They clearly explained each option, its implications, and its benefits, translating technical and legal details into actionable insights. From a legal and administrative perspective, SRG’s diligence and communication created peace of mind. Nothing fell through the cracks, and every step built confidence in the final outcome. The Rollout: Bringing the Team On Board Once the plan was finalized, the firm turned its attention to rollout and communication, a critical step in ensuring understanding and enthusiasm with the team. SRG equipped Brian Cochran with the necessary tools, talking points, and documentation to facilitate one-on-one conversations with eligible team members. These personalized discussions helped participants understand: The Client’s Reflection: Confidence in the Future Reflecting on the process, Brian Cochran expressed deep satisfaction with the results and gratitude for SRG’s partnership. The success of the plan reinforced a broader insight: succession and equity planning aren’t just about ownership, they’re about creating a culture of shared success. The Takeaway: Partnership That Builds the Future This case exemplifies SRG’s mission to help advisors, RIAs, and other financial firms align their people, purpose, and planning for enduring success. Through the thoughtful leadership of Julia Sexton CVA®, Brian Cochran gained not just a plan but a strategic framework for growth, retention, and value-building initiatives. The Equity Sharing Plan now serves as both a meaningful reward system and career-building roadmap, ensuring that the firm’s brightest talent can build their future within the organization. Download the Case Study Building a Lasting Legacy Through Equity Sharing with Brian Cochran Every advisory firm reaches a point where retaining top talent becomes essential for long-term success. Developing an equity strategy that aligns value, culture, and succession is key to protecting what you’ve built and preparing the next generation of leaders. This case study breaks down:• How to structure equity sharing for retention and career growth• Making ownership accessible without compromising firm stability• Designing plans that reward both senior and emerging team members• Strengthening culture, engagement, and future succession through shared value DOWNLOAD CASE STUDY

Equity Compensation: A Technical Comparison between Restricted Equity Grants

Empower your team and strengthen the long-term health of your business with SRG’s “Equity Compensation: A Technical Comparison Between Restricted Equity Grants” white paper. This practical, easy-to-understand resource breaks down the key differences between Restricted Stock Awards (RSAs) and Restricted Stock Units (RSUs) — two of the most common tools for sharing ownership value and aligning employees with your company’s future. Whether you’re designing a new equity plan, preparing for growth, or looking to retain top talent, this guide clarifies the structural, tax, and ownership considerations every business owner should understand. From grant mechanics and vesting to 83(b) elections and S-Corp compatibility, you’ll learn how each approach impacts control, complexity, and long-term planning. Explore how the right equity strategy can motivate your team, support succession goals, and protect the value you’ve built. Download the white paper today and make confident, informed decisions about equity compensation. DOWNLOAD NOW

From Siloed to Synergized: How to Merge Advisory Practices the Right Way

In this NM-focused session, SRG’s Ryan Grau (Valuations Director) and Nicole Frey (Director, Team Solutions) walk advisors through merging or consolidating practices the right way—why to merge, how to divide ownership fairly, and how to design compensation that keeps everyone whole. They compare common starting points (expense-sharing vs. fully separate practices), show how an equity-centric ensemble drives scale, continuity, and talent retention, and stress starting with a formal valuation. For Northwestern Mutual specifically, they explain assigning W-2 risk revenue to the entity, “trigger-event” risk if an agent departs, and SRG’s with-and-without valuation model to handle renewals. The replay covers pre-/post-merger cash-flow analysis, quick wins (grid bumps, cost reductions), entity choices (LLC vs S-Corp) including a two-tier LLC/S-Corp structure, governance and voting design, and ongoing entity maintenance. Watch the Replay Related Resources Entity Maintenace Program Stay Protected, Stay Compliant, Stay Confident. → Six Events that Require a Valuation Is It Time for a Valuation?→ Due Diligence ChecklistStart With the Right Checklist →  Grab A Valuation We offer a variety of solutions and turnaround times to fit your needs. Join myCompass Our membership club grants you inside tips and opportunities to grow. Review our Seller Services We’re here to ensure you secure the best buyer, price and terms.

5 Must Have Items for Your Equity Grant Plan

Granting equity is one of the most impactful — and complex — decisions a business owner can make. SRG’s “Top 5 Must-Have Items in Your Equity Grant Plan” infographic outlines the essential elements every advisor should include to protect, structure, and maximize their firm’s value. From corporate authorization and valuation to vesting terms and share class, this guide simplifies a process that can otherwise be overwhelming. Whether you’re granting equity for the first time or refining your existing plan, this resource ensures you’re covering every critical detail. Download the infographic today to learn how to build a strong, compliant equity plan that supports growth, rewards key talent, and safeguards your firm’s future. DOWNLOAD NOW

Putting Your Equity to Work

Watch the Replay Related Resources 2025 Advisor M&A ReportCheck Out our Press Release→ The Why Who & How of Equity SharingCheck Out the eBook→ 12 Key Reasons to Assess Your Practice’s Value Annually Read the Article → Carrot and the StickListen to this Podcast→ Grab A Valuation We offer a variety of solutions and turnaround times to fit your needs. Join myCompass Our membership club grants you inside tips and opportunities to grow. Review our Seller Services We’re here to ensure you secure the best buyer, price and terms.

How to Effectively Share Equity

Watch the Replay Related Resources The Principles of Equity SharingGrab this quick overview → Retain Talent Through Equity Sharing Listen to this podcast → Everything EquityWatch this related webinar → Grab A Valuation We offer a variety of solutions and turnaround times to fit your needs. Explore Equity Services Start leveraging your most valuable asset to keep and attract top talent. Talk To An Expert Schedule a chat with our team.

Three Major RIA Growth Mistakes to Avoid

For most advisors and RIAs who own their firms, growth is the ultimate goal, whether through organic strategies, M&A activity, or some combination thereof – and for good reason. Without growth, firms run the risk of losing clients they can’t replace, missing the chance to capitalize on massive opportunities like the great wealth transfer, and falling too far behind competitors to catch up. But with a few adjustments to right-size common mistakes, advisors can capture growth opportunities and set their firms up for future success, whether that means selling the business or passing it down to the next generation within the firm.

Everything Equity

Join SRG’s webinar, Everything Equity, presented by Nicole Frey, CFP®, where you’ll learn everything you need to know about equity sharing. In this information-packed webinar, you can expect to learn: Key components of equity sharing Identifying the best plan for you and your company Differences between phantom equity to real equity Who should participate in equity sharing plans Tax considerations and implications Expert insights into rewarding key employees Retaining top talent Developing the next-generation ownership plan Don’t miss out on this opportunity to learn from an expert in the field. Fill out the form to watch the webinar on demand! Watch Recording Resources [SRG Off Script]Succession & Equity Sharing Q&A → [Blog Post]How Does Equity Compensation Work? [Blog Post]What is Phantom Equity and How is it Used? → [SRG Services] Valuation →Entity Support →Employment Resources → Learn more about SRG’s Equity Sharing Service. Schedule your free consultation below! Presenters Nicole Frey, CFP® Project Manager

SRG Off Script: Succession & Equity Sharing Q&A

https://youtu.be/L87GvTcmIeg In the latest monthly webinar series titled SRG Off Script, David Grau Jr. answers your questions surrounding succession planning best practices, equity-sharing strategies, and other ways to attract and retain top talent. Submit your question(s) at registration or live during the webinar! SRG Off Script is a monthly webinar series hosted by SRG President David Grau Jr. David along with other industry experts provide insight and address questions related to all stages of managing a financial practice. Have a request for future SRG Off Script session topics? Let us know at registration or email marketing@successionresourcegroup.com Learn more about SRG’s services: Succession Planning & Equity Sharing. Schedule your free consultation today! Presenters David Grau Jr., MBA President/Founder

What is Phantom Equity and How is it Used?

As an incentive to motivate hard-working key employees, private employers can issue phantom stock, also known as “shadow stock,” as equity compensation. While the value of these phantom shares will rise and fall in line with the company’s stock, the employee will not gain any actual ownership over the company or minority shareholder rights.