We recommend that advisors ask themselves a series of difficult but important questions
- For how many more years would I like to continue providing full service to my clients, and have I considered a part-time arrangement?
- What are the principles and core beliefs that I need when evaluating another advisory firm?
- Are my clients concerned about my retirement, or have they expressed concern about my contingency or succession plan?
- What is my vision for retirement, and how would I like to spend my time?
Elite will evaluate an advisor’s current practice to understand what they value in an ideal relationship. After analyzing an advisor’s career goals and objectives, we introduce suitable options. We evaluate all available solutions before implementation.
A comprehensive analysis and understanding of an advisor’s current situation is a necessary precursor to making the right decision. Elite does not rely upon the cookie-cutter models that typical firms may use when evaluating a financial advisory practice. We complete a thorough analysis of financial advisory practices and consider all relevant factors when providing objective valuations. We help maximize future value by streamlining operational procedures, developing systems, and creating efficiencies.
Succession Planning Services
Many advisors do a great job helping clients with retirement planning. Ironically, financial advisors often follow the trend of many small businesses in the United States: they ultimately transition their practices to a successor too late, often as a result of death or disability, and thus fail to maximize value and realize their intended vision of succession and retirement. Elite understands this industrywide quandary, and is passionate about transition, contingency, and succession planning education. We engage financial advisors, RIAs, and broker dealers to communicate the risks associated with not having a succession plan.