Why Wealthcare

Succession Planning

Help your advisors plan a future transition with our succession planning model

 

Any entrepreneur knows that there comes a time to exit the business. Waiting until that time arrives can be disastrous. Planning ahead can mitigate headaches like valuation, transition, and most importantly, client retention.

Our GDX360 platform can help soothe nervous clients by creating consistent, personalized experiences.

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Succession planning best practices and tips for firms and financial advisors

Succession planning best practices and tips for firms and financial advisors

Planning an exit can be both exciting and overwhelming. By coordinating this event with your advisor, you’ll be better prepared for the obstacles that will eventually arise, while reducing the risk of surprises.

Some essential best practices worth considering:

  • Plan early when the advisor wants to exit
  • Set goals to determine when to execute the plan
  • Develop a consistent, repeatable process for creating personalized client experiences
  • Incorporate the advisor’s overall business strategy into the plan
A good exit strategy is one of the keys to a solid succession plan

A good exit strategy is one of the keys to a solid succession plan

Partner with your advisors to create sound exit strategies. It can help them get the most value out of their practice, while giving their clients – and you – reassuring consistency.

By creating an exit strategy now, you’ll have the ability to:

  • Build equity value well before your advisor transitions
  • Ensure continuity of service for clients
  • Spot talent: identify and choose an advisor to lead business
  • Provide for the efficient transfer of the business
  • Help your advisors to retire on their schedule
  • Time your advisor’s exit in an effort maximize value
  • Focus on lessening the tax impact of the succession
  • Remove emotional decision-making
  • Guard against unexpected events or premature retirement
  • Reduce the risk of a fire sale
Our model can provide your transitioning advisors with continuity

Our model can provide your transitioning advisors with continuity

Nothing will short-circuit a potential succession deal faster than operational or compliance issues.

It can be challenging to provide clients with a personalized experience that is also consistent, repeatable and scalable.

Firms and retiring advisors can overcome this challenge with Wealthcare’s succession planning services and our GDX360 platform. It’s an easy-to-use process that streamlines tasks, while improving the client experience.

 

As your firm’s advisors approach retirement, we can help them plan for their future

As your firm’s advisors approach retirement, we can help them plan for their future

Advisors work with clients to plan their futures. Now it’s time to help your advisor plan for theirs.

When an advisor begins to consider retiring, they’ll start to get their business house in order.

Wealthcare’s succession planning model can help your firm guide advisors through the various decisions they’ll need to make.  It’s an effort to maximize value, while providing consistency for clients that can improve short and long-term retention.

 

Assist your advisors with announcing their transition to clients and business associates

Assist your advisors with announcing their transition to clients and business associates

When one of your firm’s advisors decides to retire, the really important work begins: communication. Keeping everyone in the loop reduces the potential for unwelcome surprises.

We can help plan and execute an effective communications program that:

  • Introduces new team members
  • Sets expectations and a timetable for the succession
  • Identifies potential service gaps and provides resolution
  • Provides continuity of service and client experiences

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Access GDX360

Access GDX360

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GDX360 + Branding

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GDX360 Custom

GDX360 Custom

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