As sure as the fact that today you are a financial advisor, some day you will leave the business. And the wisest course of action is to prepare for a succession plan years before you leave your practice.

A good succession plan will allow you to extract the value you have created in the practice and decide when to walk away. For many advisors, their practice is an extremely valuable asset. Hopefully, you will leave your practice on your own terms, how and when you choose. To help you in your succession plan and receive the maximum worth for your practice, below are five recommended actions to take.

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