{"product_id":"succession-planning-for-financial-advisors-website-9781118866474","title":"Succession Planning for Financial Advisors","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003eThis book is going to challenge you and everything you think you know about succession planning.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFor independent advisors, succession planning is quickly becoming the cornerstone to a strategic growth strategy designed to perpetuate their business and their income streams beyond their own lifetime, while providing a multi-generational service platform that attracts and rewards younger advisors. This makes succession planning one of the most, if not \u003ci\u003ethe\u003c\/i\u003e most, important practice management tools in this industry today.\u003c\/p\u003e \u003cp\u003eAs an independent financial advisor, now is the time to address the question of what will happen to your practice and your clients after you exit the building. In most cases, the answers are right in front of you. Thankfully, \u003ci\u003eSuccession Planning for Financial Advisors: Building an Enduring Business\u003c\/i\u003e has arrived to transform today's practices into businesses designed to endure and prosper and serve generations of clients.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eLe\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003ePreface ix\u003c\/p\u003e \u003cp\u003eAcknowledgments xi\u003c\/p\u003e \u003cp\u003eIntroduction xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 The Succession Conundrum 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePractices Built to Die 1\u003c\/p\u003e \u003cp\u003eWhat Exactly Is a Succession Plan? 2\u003c\/p\u003e \u003cp\u003eWhy You Need to Create a Succession Plan Now 4\u003c\/p\u003e \u003cp\u003eYour Clients Are Watching You! 8\u003c\/p\u003e \u003cp\u003eWhy This Industry Struggles with This Concept 9\u003c\/p\u003e \u003cp\u003eThe Evolution of the Solution 11\u003c\/p\u003e \u003cp\u003eMind Your Own Business 14\u003c\/p\u003e \u003cp\u003eThe Opportunity at Hand 16\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 How to Start Creating Your Succession Plan 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDefining Your Goals 19\u003c\/p\u003e \u003cp\u003eBuilding a Foundation for Success 24\u003c\/p\u003e \u003cp\u003eFacing Your Biggest Challenges 26\u003c\/p\u003e \u003cp\u003eEquity—A Powerful Business-Building Tool 33\u003c\/p\u003e \u003cp\u003eValuing a Financial Services Practice 35\u003c\/p\u003e \u003cp\u003ePracticing Equity Management 47\u003c\/p\u003e \u003cp\u003eBuilding Profit-Driven Businesses 49\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Transforming Your Practice into a Business 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAssessing What You Have Built 51\u003c\/p\u003e \u003cp\u003eA Building Problem, Not a Planning Problem 55\u003c\/p\u003e \u003cp\u003eA Parable 58\u003c\/p\u003e \u003cp\u003eBuilding Your Ship 60\u003c\/p\u003e \u003cp\u003eRethinking Your Compensation System 61\u003c\/p\u003e \u003cp\u003eBalancing Revenue Strength and Enterprise Strength 63\u003c\/p\u003e \u003cp\u003eSelecting the Right Entity Structure 65\u003c\/p\u003e \u003cp\u003eRemodeling Your Cash Flow 72\u003c\/p\u003e \u003cp\u003eProduction Model versus Business Model 77\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Creating Your Succession Team 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe People Problem 81\u003c\/p\u003e \u003cp\u003eThe Secret Formula: G-1 + G-2 + G-3 82\u003c\/p\u003e \u003cp\u003ePlan Before You Build and Hire 85\u003c\/p\u003e \u003cp\u003eMining the Talent Pool 87\u003c\/p\u003e \u003cp\u003eTurning Employees into Equity Partners 89\u003c\/p\u003e \u003cp\u003eOnboarding Talent with a Book of Business 91\u003c\/p\u003e \u003cp\u003eThe Case of the Super Producer 94\u003c\/p\u003e \u003cp\u003eHelp Wanted Ad 96\u003c\/p\u003e \u003cp\u003eSolving the Talent Crisis in This Industry 98\u003c\/p\u003e \u003cp\u003eA Conversation with the Next Generation 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 The First Step—A Continuity Plan 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Dress Rehearsal for Succession Planning 103\u003c\/p\u003e \u003cp\u003eWhat Exactly Is a Continuity Plan? 104\u003c\/p\u003e \u003cp\u003eBasic Components of a Continuity Plan 105\u003c\/p\u003e \u003cp\u003eTypes of Agreements 106\u003c\/p\u003e \u003cp\u003eFunding Your Continuity Plan 111\u003c\/p\u003e \u003cp\u003eContinuity Plan Dos and Don’ts 112\u003c\/p\u003e \u003cp\u003eA Powerful Acquisition Tool 115\u003c\/p\u003e \u003cp\u003eCommunicating Your Plan 115\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Charting Your Succession Course 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExit Strategies versus Succession Plans 117\u003c\/p\u003e \u003cp\u003eSelling Your Practice 118\u003c\/p\u003e \u003cp\u003eMergers 124\u003c\/p\u003e \u003cp\u003eWhat Doesn’t Work in This Industry 126\u003c\/p\u003e \u003cp\u003eEmployee Stock Ownership Plans 129\u003c\/p\u003e \u003cp\u003eWhat Does Work? A Lifestyle Succession Plan 132\u003c\/p\u003e \u003cp\u003eGoals of a Lifestyle Succession Plan 134\u003c\/p\u003e \u003cp\u003eThe Family Business—A Special Case 136\u003c\/p\u003e \u003cp\u003e“Yes, but . . .” (Obstacles to Overcome) 139\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Succession Planning Step-by-Step 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhere to Start 147\u003c\/p\u003e \u003cp\u003eAssembling Your Support Team 150\u003c\/p\u003e \u003cp\u003eEnjoy the Planning Process 152\u003c\/p\u003e \u003cp\u003eDoing the Math 153\u003c\/p\u003e \u003cp\u003eEstablishing a Fair Price 154\u003c\/p\u003e \u003cp\u003eThe Nuts and Bolts of a Plan 155\u003c\/p\u003e \u003cp\u003eDocumentation 166\u003c\/p\u003e \u003cp\u003eBank Financing—Expanding Your Options 167\u003c\/p\u003e \u003cp\u003eBeware of Benchmarks and Survey Results 169\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 A Tale of Ownership 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSuccession Planning Case Study 171\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 9 Course Corrections 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReturning to the Harbor 179\u003c\/p\u003e \u003cp\u003eEmpowering the Next Generation 180\u003c\/p\u003e \u003cp\u003eGrowth Is a Sign That Your Plan Is Working 182\u003c\/p\u003e \u003cp\u003eWhat to Do When Your Plans Change 183\u003c\/p\u003e \u003cp\u003eWhat to Do When Their Plans Change 184\u003c\/p\u003e \u003cp\u003eHandling the Culture Shift 185\u003c\/p\u003e \u003cp\u003eConclusion 187\u003c\/p\u003e \u003cp\u003eAbout the Companion Website 189\u003c\/p\u003e \u003cp\u003eAbout the Author 191\u003c\/p\u003e \u003cp\u003eIndex 193\u003c\/p\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":48866379530583,"sku":"9781118866474","price":40.0,"currency_code":"GBP","in_stock":false}],"url":"https:\/\/bookcurl.com\/products\/succession-planning-for-financial-advisors-website-9781118866474","provider":"Book Curl","version":"1.0","type":"link"}