Often, independent advisors are brought in at different times and aren’t aware of the other advisors who are providing services.
Transferring a practice is often the largest business deal a financial advisor will oversee.
Tips to ensure a smooth succession
Understand your obligations and rights
Parrott has been involved with CLIEDIS for 18 years.
Under the current system, it is easier to sell to a third party than it is a family member.
What happens when an advisor is incapacitated or dies suddenly? How will clients continue to be served without disruption?
When it comes to selling a client’s business, timing matters.
Damon Williams and Alex Khein have been appointed as co-CEOs, reporting to George Lewis, group head, RBC Wealth Management & RBC Insurance.
Business owners need to plan better for their successions.