Most advisors spend their careers helping clients plan for the future. But when it comes to their own, succession planning often takes a back seat—until it’s urgent.
The reality is, succession isn’t just about retirement. It’s about continuity. It’s about ensuring your clients are supported, your team is secure, and your life’s work carries forward with integrity. And none of that happens by accident.
One of the most common mistakes advisors make is waiting too long to start planning. Not because they don’t care—but because the process can feel distant, complex, or uncomfortable. But a strong succession plan isn’t something you build at the finish line—it’s something that strengthens your business long before you’re ready to leave it.
Mid-Year Is the Right Time to Take Stock
Right now—mid-year—is an ideal time to step back and evaluate the state of your business through a succession lens.
Ask yourself:
- Are your operations truly scalable, or are they overly dependent on you?
- Are your top clients engaged with anyone beyond the founder?
- Are you meeting the growth goals you set in January—or has the plan drifted?
- Is your marketing aligned with your current value proposition and future goals?
- Are you actively preparing someone—internally or externally—to carry the business forward?
These aren’t just business questions. They’re succession questions. Because what you do today directly affects how transferable—and valuable—your business will be tomorrow.
Clients Are Central to a Successful Transition
One of the most overlooked elements of succession is client familiarity. If you plan to merge with or sell to another firm, the way you introduce that future team matters.
Bringing clients into the fold early can significantly improve retention and reduce transition risk.
Most acquisition deals tie advisor payouts to client retention. If clients leave after the handoff, it can trigger clawbacks or reduce future payments. But when the transition is gradual, and clients feel informed, supported, and comfortable with the successor, they’re far more likely to stay. That familiarity is both a service strategy and a business one.
Succession Planning Is Not Just an Endgame
Done right, succession planning makes your business stronger today. It forces you to clarify your processes, invest in leadership, and build systems that aren’t just efficient—but durable.
It also helps shift your role from being the business to leading the business—something that pays dividends whether you plan to transition in five years or fifteen.
Because succession planning isn’t about stepping away. It’s about creating something that can thrive—even when you do.
This material is provided as a courtesy and for educational purposes only. Please consult your legal or tax advisor for specific information pertaining to your situation.