Building a business is like running a marathon, rather than a sprint. In the day-to-day pace, succession planning often gets postponed. However, the delay in planning may change the marathon to a relay race, with beneficiaries sprinting to the finish line. Here’s why: 

Once there is notification of an unplanned exit from industry*, the proverbial horn blares. The “baton” – or the book of business – must be passed before the advisor’s rep code expires in 30 days. When that happens, clients run the risk of becoming orphaned and the intrinsic value of the business diminishes. Time is of the essence to establish stability and continuity for clients

To capture the value the advisor built, loved ones must use their 30 days to accomplish the following: 

LPL Financial Creative Graphic

It's worthwhile to consider how well-equipped your beneficiaries would be to pick up this baton. Will they know where to start? Do they understand your revenue model and the key drivers of value for your business? Do they have someone they can rely upon for support? 

We’re here to help you build your business and prepare for the future. If you haven’t done so already, we encourage you to establish time on your calendar to think about how you can preserve your business' value so your loved ones can sit this race out. Better yet, schedule a consultation to learn how The Assurance Plan can make your succession concerns, yesterday’s problem.

*Unplanned exit due to death or incapacity.

LPL Financial Creative Graphic

It's your legacy. We'll help you protect it

Without a succession plan, beneficiaries have six important tasks to complete in 30 days to extract value from an advisor’s business. Schedule a consultation to learn how
The Assurance Plan can help.