InvestmentNews Article: ‘Retire in place’ doesn’t cut it as a succession plan
Everyone wants to eventually slow down. You’ve earned it. But do it the right way. Our industry is becoming increasingly complex, with new products and technologies emerging on a regular basis. If you don’t stay current, how competent will you remain as a financial adviser? And, most importantly, how does this impact your clients?
This InvestmentNews article written by our Co-Founder Scott Hanson reads:
It has become apparent to me that the succession plan of many older advisers is simply to retire in place.
To achieve this, advisers basically stop working full-time, place all (or most) client assets in fee-based accounts, strip out as many expenses as possible, come into the office less and less, and communicate with clients only when the client reaches out.
Otherwise? Sit back, collect “dividends,” and let it ride.
Scott Hanson, Co-Founder, Allworth Financial