5 Most Common Post-Transition Roles
Download Your eBook! Please enable JavaScript in your browser to complete this form.Please enable JavaScript in your browser to complete this form. Name * FirstLast Phone Work Email *How Did You Hear About SRG? *— Select Choice —ConferenceDirect MailExisting/Past ClientGoogle AdWordsOtherReferralSocial MediaSeminar/WorkshopWebinarWebsite Download Uncover Your Post Sale Potential. You have many post-transition opportunities – From helping develop and analyze investment models, becoming a mentor to junior advisors, and/or staying on in a rainmaking capacity. Selling your practice now and staying on for the next couple years is not only achievable, but also creates more possibilities than most advisors think. Take a look at the (5) five post-transition roles that allow you to phase out on your terms and uncover your post-sale potential!
9 Tips to Prepare Your Business for Sale
Depending on what source you look at, the average age of an advisor in the financial services industry is anywhere from 51-57 years old. While that would typically leave plenty of time until the average age of retirement, the average age of an advisor selling their business is much younger, most often occurring near age 59. This is due in large part to the long-term seller involvement that is ideal in the sale of a professional services business, ranging from as low as 12 months to as long as 5 years. While you may not sell your business, you will leave this industry – planned or unplanned. The better prepared you are for your eventual transition, the happier your clients will be with the process, and the more you are likely to get out of it (financially and emotionally).
How Soon Is Too Soon?
As a small business owner, there are many things that fill your typical day, most focused on either maintaining the business you’ve built or on ways to grow the business. Having worked with small business owners over the last decade, I know most of you reading this post don’t spend any measurable amount of time thinking about your succession/exit plan. With this in mind, the focus of this post is to answer a question I hear frequently from owners and their successors – “When should we start developing the succession plan?”