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Financial Planning May 1, 2008 Jeanne Lee	Protection Money Financial planners can cement their position as trusted advisors to small business owners by starting conversations about succession plans that provide a legacy for their families.
Registered Rep. December 1, 2004 Anne Field	Practice Makeover Like many advisors, Gary Hager has decided to focus on the small-business community, and for good reason. With about 20 million small businesses in the U.S., the market comprises a wide-open opportunity.
Financial Advisor June 2012 Karen DeMasters	Succession Survival Guide Advisors plan for their clients' futures but often ignore their own.
Investment Advisor August 2007 Thomas D. Giachetti	Internal Medicine Because of the "graying" of the industry, it is increasingly important for advisory firms to consider succession planning issues, whether via internal succession or an external acquisition or sale. Critical to any successful succession is having the appropriate underlying documents in place.
On Wall Street April 1, 2013 Lorie Konish	Talking to Small Business Owners in Transition When speaking with small business owners, be prepared with specialized knowledge, willingness to coordinate, and the ability to handle emotions.
Commercial Investment Real Estate Sep/Oct 2015 Mary Stark-Hood	Succession Planning According to a 2014 Financial Planning Association Survey, the greatest financial challenge facing small business owners is developing a retirement plan and exit strategy.
The Motley Fool June 26, 2006 Dan Caplinger	Who'll Take Over When You Go? After you retire, what should you do with your business? Planning for how your business will go on without you is as challenging as planning for how your business first started.
Registered Rep. June 19, 2012 Alan Lavine	Best Small Business Insurance Strategies Few financial advisors counsel their small business owner clients on insurance, but they should. Insurance funded by buy-sell agreements is essential for most of these clients.
Investment Advisor December 2006 Charles Goldman	Do It Now; Do It Right It's important for financial advisors to look ahead and ask the question: How do you plan to exit the business? If you're not sure, it's time to consider your options -- sell externally or internally -- and create a business transition plan that spells out the future of your firm.
Financial Planning September 1, 2009 Hamburger & Walter	The Missing Piece Succession issues arise with every business, but they're more personal and are subject to more emotions in an entrepreneurial, closely held, professional services firm.
Registered Rep. July 24, 2014 David Grau Sr.	Charting Your Succession Course The author delineates the usual alternatives for selling an advisor practice.
Financial Planning March 1, 2008 David Grau	In the Minority Transferring equity is an important step in the future of almost every financial services firm. While people don't live forever, a business can, if each succeeding generation plans appropriately. Minority interests are one way to achieve this.
Financial Planning September 1, 2006 David Grau	Internal Affairs For the small financial planning practitioner, selling to an employee is a daunting challenge that most owners never understand -- until it's too late.
Financial Advisor February 2008 Rebecca Pomering	Adding New Owners Across the industry -- and in the minds of most advisors -- the debate between internal and external succession continues. Read on for some pros and cons on this important issue.
Financial Planning July 1, 2012 Ann Marsh	Think Small to Land Big Advising clients about their small businesses is not for the control freak, the timid or the egocentric. But for planners who venture into this terrain, working with entrepreneurs may provide some of the most satisfying experiences - financially and emotionally - of their careers.
Entrepreneur November 2006 Carol Tice	Lost in Transition If you don't take steps to ensure your company's future now, you may not have the chance later. Here's how to plan for a smooth business transition.
Financial Planning October 2, 2007 Elizabeth O'Brien	A Dynasty of One's Own When family wealth comes from a family business, the planning can get personal. Here's what financial advisors need to know.
Registered Rep. August 1, 2004 Anne Field	Thinking Small (In a Good Way) The small-business market can be a big one for many financial advisors - just make sure you understand the terrain.
Financial Advisor October 2010 David Lawrence	A View From Both Sides To successfully retire, financial advisors have to carefully plan and develop a clear direction before taking action.
Investment Advisor January 2009 Lewis Schiff	What to Do with the Family Business If your client sells their business, would their children be in a better financial and personal position without the additional role of small business owner?
Financial Planning August 1, 2008 David Grau	Worthy Successors In the financial services industry, the general term "succession planning" describes any number of plans to deal with an owner's departure from the business.
Financial Planning November 1, 2007 David Grau	Protecting Equity As independent advisors move to evaluate, build and realize the equity in their growing practices, one holdover succession practice threatens to undermine their progress.
Financial Planning July 1, 2007 Suzanne McGee	Serving Small Business Forging solid relationships with small-business owners gives financial planners a chance to grow with clients.
Financial Planning March 1, 2007 Tere D'Amato	Buy-Sell Review If your financial advisory clients are business owners, updating their buy-sell agreements should be a regular exercise.
Financial Planning January 1, 2007 David Grau	The Impact of Taxes When it comes to taxes, financial services practice succession isn't always well planned. What you don't know can hurt you, at the worst possible time.
Investment Advisor May 2010 Angela Herbers	The Fast Track: A Marriage of Inconvenience A spouse in a practice almost always results in more problems than it solves.
Investment Advisor February 1, 2011 Angie Herbers	The Why Factor: Explaining the Revenue-Employee Motivation Link What makes a tremendous difference in employees' future performance and contribution to an advisory firm is making sure they really want the job.
Financial Planning June 1, 2010 Daniel Seivert	Transfer of Power Fewer than 10% of practice owners have developed formal succession plans. Isn't it time you put one in place?
Registered Rep. March 22, 2011 Jerry Gleeson	Succession Not Succeeding For Family Business Wealth managers with family business owners for clients may want to prepare for some rough transitions ahead.
Registered Rep. June 1, 2004 John Churchill	Keeping Family Businesses in the Family It's not news that mixing family and business can be messy, but advisors might be surprised to know the extent to which family-owned businesses need their services.
Financial Planning October 1, 2009 Martin M. Shenkman	Succession To-Do List Succession planning is a vital component of every estate and financial plan for every professional client and business owner. Here are ten succession planning tips.
Investment Advisor October 2008 Angela Herbers	One Small (Big) Step The advisory industry has taken a giant leap forward in the past year. Attendees at this year's FPA NexGen conference clearly have made progress at getting small pieces of equity in their firms.
Knowledge@Wharton August 27, 2003	Family Ties: Succession Seen Through a Successor's Eyes Like monarchies, one of the thorniest problems family firms face is succession. Over the years, academics have explored factors that can smooth the succession process for family firms. A second-generation successor talks about how the process has gone.
Registered Rep. May 1, 2004 Kevin McKinley	Taking the Ax Out of Tax An advisor knows a big payday is in the offing if he can prove himself indispensable in figuring out how to get the client the money he needs while helping him cut his tax bill when selling highly appreciated assests. A look at private annuity trusts.
On Wall Street January 1, 2013 Mira Fine	Tax Tips for Business Owners What advisors can still do to protect business owners assets even though last year is gone.
Financial Planning October 1, 2011 Matthew F. Erskine	To Collect and Protect The owners thought estate planning wouldn't take much. With unique assets, things aren't always so straightforward. Owners of such assets - such as family businesses, legacy real estate and valuable art, coin and other collections - need to consider specialized risk management.
Investment Advisor March 2006 Mark Tibergien	Formulas for Success: Preparing for the Fall Are you succeeding at succession? This question increasingly comes up as advisors see each month flip away, and each year change a digit. In the autumn of your career, are you prepared for the inevitable?
Inc. November 2006 Stephanie Clifford	How To Write a Buy-Sell Agreement Along with a general agreement about ownership and responsibilities, every business with multiple owners needs a buy-sell agreement.
Financial Advisor October 2010 Roy Diliberto	Solutions Looking For Problems As financial life planners, we need to be watchdogs for inappropriate advice that others suggest to our clients.
Investment Advisor May 1, 2011 Mark Tibergien	The Constituency Conundrum How will your business decisions impact those who rely on you?
Financial Advisor September 2006 Kristofor R. Behn	Seller Beware Is selling a financial planning practice to an outsider the best way to extract its true value?
Registered Rep. December 1, 2006 Christopher O'Leary	Saving the Entrepreneur From Himself For financial planners, showing a business owner the value of his company -- the potential lump sum from a sale -- can focus the mind.
Registered Rep. January 11, 2013 Mark Miller	Here Come the Boomer Biz Owners There are 12 million baby boomer business owners, and they're about to retire. Trillions of dollars may be on the table for advisors able to help them transition.
Inc. September 2006 Elaine Appleton Grant	Hush Money For sale: a manufacturer of sound isolation booths and acoustics products in southern Oregon.
Financial Planning July 1, 2009 Donald Jay Korn	Filling the Gaps Clients who own small businesses are likely to face problems in this uncertain economy, and financial planners can help address at least some of their issues.
Financial Advisor October 2010 Steve Parrish	Time To Rebuild Financial advisors can help battered business owners plan for the future.
Investment Advisor July 1, 2011 John Sullivan	Finding Success in Succession Planning Whether you're affiliated with a broker-dealer or completely independent as an RIA, proper succession planning helps you realize value long before you walk out the door.
Financial Planning September 1, 2006 Stephanie Bogan	The Boss Can't Let Go Why your senior advisor is dragging his feet about turning over the reins of the financial advisory firm -- and what you can do about it.
Registered Rep. March 1, 2008 Mollie Neal	Small Businesses Need New Bootstraps Not immune to the sub-prime mortgage collapse, many small businesses are finding their best sources of capital -- home equity financing and credit card debt -- have dried up. Here are some ideas.
Financial Advisor July 2004 Grove & Prince	The Concerns of America's Small Business Owners Family owners have a different perspective, and may need different solutions.