Succession Planning to Enable Growth

Feb 19, 2020

Succession Planning to Enable Growth

State of the Industry Podcast – Episode 4

On this episode of State of the Industry, we welcome:

Scott Hanson, Co-Founder and Co-CEO, Allworth Financial (Host)
Pat McClain, Co-Founder and Co-CEO, Allworth Financial
Brandon Kawal, Principal, Advisor Growth Strategies

Each guest offers a unique perspective on the latest succession planning research and why some plans succeed and some plans fail.

Key Takeaways:

The latest research about growth opportunities in the advisory sector
Why firms are seeking internal or external succession plans
What makes a plan succeed or fail
How succession plans can help to scale and grow a business

We hope you enjoy. You may subscribe to our podcast by clicking here on iTunes Podcasts.

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1. Barron’s Top 100 RIA Firms: Barron’s ranking of independent advisory companies is based on assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms who wish to be ranked fill out a comprehensive survey about their practice. Allworth did not pay a fee to be considered for the ranking. Allworth has received the following rankings in Barron’s Top 100 RIA Firms: #14 in 2024, #20 in 2023 and #31 in 2022. #23 in 2021, #27 in 2020.

2. Retention Rate Source: Allworth Internal Data, FY 2022

3 & 9. NBRI Circle of Excellence and Best in Class Ethics: National Business Research Institute, Inc. (NBRI) is an independent research firm hired by Allworth to survey our customers. The survey contains eighteen (18) scaled and benchmarked questions covering a total of seven (7) topics, and a range of additional scaled, multiple choice, multiple select and open-ended question and is deployed biannually. NBRI compares responses across its company universe by industry and ranks the participating companies in each topic. The Circle of Excellence level is bestowed upon clients receiving a total company score at or above the 75th percentile of the NBRI ClearPath Benchmarking database. Allworth’s 2023 results were compiled from 1,470 completed surveys, with results in the 92nd percentile. Allworth pays NBRI a fee to conduct the survey.

4. As of 1/1/2025, Allworth Financial, an SEC registered investment adviser and AW Securities, a registered broker/dealer have approximately $26 billion in total assets under management and administration.

5. Investment News Best Places to Work for Financial Advisors: Investment News ranking of Best Places to Work for Financial Advisors is based on being a United States based Registered Investment Adviser with a minimum of 15 full or part-time employees working in the United States and having been in business for over a year. Firms who meet Investment News’ criteria fill out an in-depth questionnaire and employees were asked to take part in a companywide survey. Results of the questionnaire and employee surveys were analyzed by Investment News to determine recipients. Allworth Financial did not pay a fee to be considered for the ranking. Allworth Financial has received the ranking in 2020 and 2021.

6. 2021 Value of an Advisor Study / Russel Investments

7. RIA Channel Top 50 Wealth Managers by Growth in Assets: RIA Channel’s ranking of the Top 50 Wealth Managers by Growth in Assets is based on being an active Registered Investment Adviser with the Securities and Exchange Commission with no regulatory, criminal or administrative violations at the time of the ranking, provide wealth management services as their primary business and have a two year growth rate of 30% based on assets reported on Form ADV Part 1 at the time of ranking. Allworth Financial did not pay a fee to be considered for the ranking. Allworth Financial received the ranking in 2022.

8. USA Today Best Financial Advisory Firms: USA Today’s ranking of Best Financial Advisory Firms was compiled from recommendations collected through an independent survey and a firm’s short and long-term AUM growth obtained from public sources. Allworth Financial did not participate in the survey, as self-recommendations are prohibited from consideration, and all surveyed individuals were selected at random. Allworth Financial did not pay a fee to be considered for the ranking. Allworth Financial received the ranking in 2024.

9. Financial Times FT 300 Top Registered Investment Advisers: The Financial Times’ ranking of the Top 300 Registered Investment Advisers is based on adviser AUM, asset growth, a firm’s age, industry certifications of key employees, SEC compliance record and online accessibility. The ranking is available to firms managing over $300 million in AUM. Allworth Financial completed a questionnaire to participate in the survey but did not pay a fee to be considered for the ranking. Allworth Financial received the ranking in 2019.

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The information presented is for educational purposes only and is not intended to be a comprehensive analysis of the topics discussed. It should not be interpreted as personalized investment advice or relied upon as such.

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The information is not intended to convey any implicit or explicit guarantee or sense of assurance that, if followed, any investment strategies referenced will produce a positive or desired outcome. All investments involve risk, including the potential loss of principal. There can be no assurance that any investment strategy or decision will achieve its intended objectives or result in a positive return. It is important to carefully consider your investment goals, risk tolerance, and seek professional advice before making any investment decisions.