The challenge in succession planningBY EUGENE ARDINO | WEDNESDAY, 1 JUL 2020 4:02PM Given that Lifespan has recently achieved the milestone of 25 years as a provider of licensee services, it comes as no surprise that over the years we have often had detailed ... Upgrade your subscription to access this article
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A good overview of what is involved with succession planning. It is no surprise that those businesses with a formulated succession plan that ensures all parties are rewarded, will typically be more profitable and attractive to potential successors. Why? Because everyone is on the same page and working towards a common goal. Just because the Principal is retiring does not mean other advisers and staff are also retiring. Obtaining good tax and legal advice is also critical to ensure a good outcome.