The challenge in succession planningBY EUGENE ARDINO | WEDNESDAY, 1 JUL 2020 4:02PMGiven 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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Cover Story
Passing the baton
LIAM ROCHE
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
Liam Roche's experience in customer relationships and paraplanning has set him up for success as a financial adviser. Now undertaking the Professional Year, the advice associate at Eureka Whittaker Macnaught tells Karren Vergara how a new breed of advisers is flying the flag.
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.