Updated Friday, December 26, 2014 as of 10:06 PM ET

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Planners Who Don’t Plan for Succession Face Unhappy Endings

Donald Jay Korn

Just as the cobbler's children go without shoes, two-thirds of independent advisors ignore succession planning. Such advisors could fall into an “annuity trap,” watching the value of their business degrade as they near the exit from their practice.

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