Succession Planning

At GP Wealth, we’re passionate about helping you build a viable business that can be transitioned seamlessly to a new owner when you retire or move on for any other reason. One of the biggest contributing factors to a seamless succession planning process is the level to which you’ve “systematized” or “institutionalized” your practice.

Keep in mind that potential buyers place a higher value on businesses that will continue running smoothly after the seller departs. The more systematic your operation, the more likely it will be to prosper with and without you.

Optimize the value of your practice

We’re experienced at managing advisor practice successions and can assist you in preparing your business for eventual sale. The key steps we advocate you undertake to systematized your practice — and thus maximize its value — are:

  • Increase your recurring revenues (service/trailer fees, PACS, renewals, etc.)
  • Minimize the costs and complexity of operating your business
  • Build your client relationships and interactions
    around systematic processes, so the new advisor
    can deliver the same level of service without missing a beat
  • Encourage product concentration in your clients’ holding to minimize the complexity for the incoming financial advisor

A successful transaction is one in which all stakeholders win – the seller, the purchaser and the clients. We have the experience and resources to make that happen. If necessary, we’ll even fund the sale to ensure you’re able to move on when the time is right for you.

Learn more about how we can help you with your succession plan by downloading our free ebook: Succession Planning for Financial Planners.