"Unless commitment is made, there are only promises and hope, but no plans." —Peter Drucker
There have been numerous articles in financial journals over recent years addressing the importance of succession planning for advisors. They point out that because the average age of an advisor is in the mid to late fifties, there is a sense of urgency about the unprepared advisor's precarious situation. These writers emphasize that the only way to safeguard the financial future for advisors, their clients, employees and family members is to develop a succession plan that will ensure a smooth transition of their practice.
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