Succession Planning - Building Business Value

Do you have a plan?

In many cases financial planners think of succession planning as something to do later, when it's time to retire and sell their practices. But making smart decisions at each step of your practice development will help you maximize and monetize your practice value when it's time to move on.

How can ACA help you?

Succession planning is a critical part of practice management yet the resources available to financial planners are very limited. To help members overcome this industry shortcoming, ACA has developed a complete program related to the acquisition and sale of practices.

As an ACA member you will have access to a platform containing strategic guidance, papers, templates, tools, and workshop recordings that will help you create, protect, and realize advisory practice value.

The ACA Building Business Value Program addresses three key areas:
• Acquisitions & Creating Business Value
• Valuations & Protecting Your Business Value
• Designing & Implementing Your Succession Plan

What will you receive?

Whether you are just starting out or running an established firm your business can benefit from a customized succession plan. The following papers are a sampling of the valuable information you will receive from ACA's Succession Planning Program. 

The Essentials of a Practice Acquisition

When properly approached, acquiring a financial practice can be an optimal growth strategy for early and mid-career financial advisors. Certain late career advisors may also find this strategy feasible for increasing the overall value of their business prior to extracting that value. Yet acquiring a financial services firm is not always as simple as some would have you believe. This paper offers an in-depth overview of the considerations any acquirer of a financial services practice should include in their plans.

Unearthing Value in a Financial Advisory Firm

The typical valuation methods used by the advisory profession tend to focus on the cash flows and net profitability produced in a firm. An equally important consideration is the group of specific value characteristics in your business and what additional worth those positive aspects bring forth from your business assets.

Crystallizing Your Succession Vision Through a Written Plan 

Creating a customized succession plan is critical to achieving the vision you have for protecting your clients and the legacy of your business. Understanding the necessary elements will provide the foundation for selecting which financial planning strategy best fits your personal circumstances.