Elite Succession Planning Education Partnership Part 2

Elite_1image credit: Blue Ocean Global Technology  

By definition, a financial advisor’s job is to guide their clients and best position them for achieving their desired lifestyle and retirement vision. Ironically, these same advisors devote very little time to protecting their own business equity: generally fewer than 30% of all advisors have undergone the process of formalizing an optimal exit strategy or succession plan. A total of 4 out of every 10 financial advisors will retire in the next 10 years, and 42% of these advisors lack a succession plan.

Succession planning can be a grueling process. It takes t...

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Elite Succession Planning Education Partnership Part 1


Chris and Sameer discuss succession planning and interact with FPA members of Greater Hudson Valley in White Plains, NY on 3/10.


Chris and Sameer engage the audience at FPA Greater Hudson Valley.

Effective succession planning is emotionally complicated and deeply personal. The decision by a financial advisor to consciously evaluate how to retire or transition is perhaps the most difficult one they will encounter.

Exit str...

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Considering All Aspects of an Exit Strategy

Succession Too often financial advisors make the same mistake as other small businesses in the United States: they pass along the baton too late, leaving their practice in a vulnerable state. Exit strategies and succession plans require foresight and careful planning. A successful exit strategy doesn’t simply plan for a business’s monetary future; it looks after its employees and clients. The legacy of an advisory firm depends on a well-organized succession plan. Succession planning can sometimes be a difficult and emotional process. For those who have spent their lives building their practice, the idea of letting it go can seem unimaginable. However, this is no excuse for neglecting to prepare for the future....

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Advantages of Succession Planning

Succession pic How is managing of the assets affected by not having a succession plan? According to current statistics, the average financial advisor is over 50 years old, and nearly half are planning to retire in the next 10 years. Most of these advisors regularly counsel their clients on the benefits of life and disability insurance, yet few have a formalized plan to protect their own business interests. In fact, it is estimated that fewer than 30% of advisors have taken the necessary steps to finalize their own succession plan or exit strategy. By neglecting to prepare for their own future, a financial advisor places their clients, and the beneficiaries of their clients, at a greater risk. Not all advis...

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Rita interviews Chris Orlando of Elite Advisory Consulting

  Marguerita: Chris, thank you for taking the time to speak with Blue Ocean Global Wealth. What gets you up in the morning? Chris: Shaun T for a little Insanity workout. The opportunity to make the world a little better place every day - through thoughtful planning and collaboration - excites me and gets me going. Read Chris's Interview with Blue Ocean Global Wealth (https://www.blueoceanglobalwealth.com/blog/rita-interviews-chris-orlando-of-elite-advisory-co...

Elite Advisor Consulting Forms Strategic Education & Consulting Partnership With Blue Ocean Global Wealth

Washington, D.C., September 25, 2014 — Blue Ocean Global Wealth, a financial planning and wealth management firm, announced on Thursday the formation of a strategic partnership with Elite Advisor Consulting. The partnership supports Blue Ocean Global Wealth’s focus on education and commitment to helping financial advisor's address succession, transition, and contingency planning challenges. Elite Advisor Consulting and Blue Ocean Global Wealth will collaborate to offer The Case for Succession Planning CFP Board CE program. Elite founder and Chief Executive Officer, Chris Orlando, will work with the Blue Ocean Global Wealth executive team to share resources and intellectual capital for the benefit of the financial planning community. “Our maturing advisory community deserves guidance, resources, and options,” said Marguerita Cheng, Chief Executive Officer of Blue Ocean Global Wealth. “We have a responsibility to help our mentors, who built the financia...

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