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Succession Planning

Protect the value and continuity of your business
For financial advisors, retirement is typically not a one-time event, but rather an ongoing, long-term process. Such a gradual process should be carefully mapped out, with assumptions and tax implications considered well in advance. But, according to recent surveys, less than 10% of advisors have a written succession plan.

Building Value Over the Long Term

Whether you are heading straight into retirement or you have years to plan and prepare for the transition, LPL Financial Succession Planning offers a multi-stage process that can help you build your practice into a business of transferable value and fully realize that value.

Planning for Your Future

A practice succession plan helps to ensure that regardless circumstances a smooth transition of business can occur and full value for your practice can be reached. Succession planning should include the long-term goal of retirement and should also focus on unexpected events and contingency planning.

A predetermined exit strategy can help:

  • Build equity value well before you transition the business
  • Ensure continuity of service for your clients
  • Provide for an efficient transfer of business to an advisor of your choosing
  • Allow you to retire on your schedule
  • Time your exit to maximize value
  • Help remove emotional decision-making
  • Eliminate the risk of a fire sale
  • Provide career-path opportunities to existing associates and/or elevate key employees to owners
  • Coordinate with personal estate plan to minimize estate taxes
  • Plan for the unexpected

The LPL Financial Succession Planning Group can assist you these and other important areas, including:

  • Advice and guidance for retirement planning and unexpected event planning
  • Formal documentation to help you complete a succession plan
  • Structuring and developing transition strategies to meet business succession goals
  • Coordination and execution of the transfer of business within LPL Financial back office
  • Discussion of valuation framework and introduction of expert partners when valuation services are needed

Whatever your needs may be, the Succession Planning Group is available to assist you in the protection and transfer of your business.