Succession Role Transition Planner Tool
Succession planning is a gradual and complex process that involves the smooth transition of trust from one generation of owners to the next. It encompasses various crucial elements such as timeline considerations, mentoring and training, evaluating risk tolerance, managing finances and cash flow, determining valuation, reviewing contracts, and much more. In order to simplify this process, we have created this e-book that breaks down your succession plan roles into 7 categories. It is also an example of what our expert SRG consultants use to initiate conversations and facilitate planning. To ensure that your succession planning is intentional, organized, and strategic, make use of our comprehensive succession planning checklist. It will help you develop a well-thought-out and documented transition plan. Don’t miss out on this valuable resource! DOWNLOAD NOW
The Financial Advisor’s HR Toolkit
DOWNLOAD NOW Streamline Your Practice with These Essential Tools Effective personnel management, including formalized employee agreements, equity sharing, and compensation plans, is equally crucial to the success of your financial practice as well as that of your team. Our toolkit is designed with all the essentials you need to manage your HR processes effectively, saving you time and increasing your efficiencies. Here’s what you’ll find inside: Expert recommendations on employment agreements Best practices for compensation Key elements for clear job role descriptions Guidance for creating a career path for your team Our toolkit is designed to help you improve your employee satisfaction, increase retention, and better align employee compensation plans with business initiatives. Complete the form to receive your free HR Toolkit today! Learn more about SRG’s Employment Resources and Equity Sharing services. Schedule your free consultation below!
Sunset vs. Succession: Realizing the Value of a Career in Financial Advice
Plan Your Exit with Full Information In recent years, expanded access to capital and advances in advisor technology have allowed independent practices to become increasingly transferable. This gives selling advisors more options in exiting the business and transitioning their practice to a successor. To help you plan for your exit, this white paper provides a close look at the benefits of independence followed by a sale of the business to a successor, as opposed to a traditional corporate sunset plan. Fill out the form to download the report. DOWNLOAD NOW
Your Guide to Proper Entity Structure
What is best entity structure for financial advisors? For advisors affiliated with a broker-dealer, using a formal entity structure like a limited liability company or corporation can be challenging since you are paid directly as the licensed professional. But, as your book of business grows and you hire staff, sign a lease, and take on other business related liability, limiting your personal liability becomes increasingly important. In addition, using a more robust equity structure allows for a variety of other options that are helpful for succession planning and growth through acquisition. “Your Guide to Proper Entity Structure” contains: a cheat sheet covering the main advantages and disadvantages of the most commonly selected entity types. a bonus checklist for best practices in using an entity in the financial services industry. For entity formation services, please visit our Entity Support service for more information. DOWNLOAD NOW
A How-To Guide For Protecting Your Business
As an advisor, one of the most important elements to protect you, your clients, and your business is to create a plan in case of your untimely death/disability/loss of license. It will ensure your clients are taken care of in your absence and your family receives the value of your business compliantly. As a result, the process of contingency planning and the creation of a viable contingency agreement are crucial steps to plan for the unexpected. Only a small fraction of advisors, agents, and accountants have a plan and/or agreement in place to provide solutions should something happen to them unexpectedly – yet everyone should have one. There are several types of plans, some simple, some more complex, and a multitude of issues beyond the actual agreement to consider. Our guide, “A How-To Guide for Protecting Your Business,” explains why a contingency plan is needed for every advisor and describes the most common types of contingency agreements, the benefits, and drawbacks of each, how value is determined and funding is secured, as well as strategies to get started. DOWNLOAD NOW
Your Guide to Increase the Value of Your Business
Grow Your business in 2023 The value of financial service practices has continued to incrementally increase, year-over-year, since the early 2000s. While most advisors are aware of the industry average multiples of revenue for buying and selling practices (for 2019, the average recurring multiple reached a new high of 2.72 and a low of .88 on transactional), few know that that range of values received by sellers ranges consistently between 1.5 and 3.5. Every practice is unique, and those unique elements are why there is such a range of values. Understanding the key drivers and detractors of value for financial service practices is critical to managing your most valuable asset – your book of business. This e-book will help you understand: How financial service practice are typically valued Four indexes of value SRG looks at when valuing a book of business Seven metrics that you should be aware of and monitor to ensure you receive the best value for your business Interested in learning more? Fill out the form to download the e-book! DOWNLOAD NOW
How To Tell Your Employees You’re Selling
Nervous about telling your employees you’re selling? There are many things you need to do before the potential sale of your practice. And telling your employees you are selling can seem like a tricky one. Although there is not an exact science to telling your employees, our guide provides effective timelines, communication strategies and best practices to effectively communicate the sale of your practice that we’ve seen been implemented effectively through hundreds of deals we’ve helped facilitate. DOWNLOAD NOW
5 Most Common Post-Transition Roles
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! DOWNLOAD NOW
Seller Readiness E-Book
Are you ready to exit? Your most valuable asset in your business is the client relationships you build. Transferring your clients and the revenue that is produced is one of the hardest steps an owner will undertake in their career and it’s important to do it right the first time. Selling your business can seem like a daunting task at first — our Seller Readiness E-Book identifies crucial elements for you to think about as you begin the process of finding your successor. DOWNLOAD NOW
