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Succession Planning for Financial Advisors: Building an Enduring Business, + Website by David Grau Sr.

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Preface

This book is going to challenge you and everything you think you know about succession planning. As an independent advisor, you own what you do, you are unique, and you are responsible for building something that will outlive you—something that is tied to the lifetimes of the clients you serve. We’re going to show you how to do just that.

Along the way, we are going to point out the challenges that lie in your path to building a multigenerational business. But we’re also going to help you build the bridges to get there. As a guide, you need to know something more about the sources of knowledge and data that support the findings and conclusions and recommendations in the pages that follow.

FP Transitions is now 16 years old. I work there, and along with my partner Brad Bueermann, we are the first-generation owners and caretakers of our business. During our time together and aided by a fantastic cast and crew, here is what we have done with you and for you: (1) More than 5,000 valuations of independent financial services and advisory practices have been completed (at the current and increasing rate of about 120 valuations per month), all with five-year histories of revenue and growth; (2) more than 1,000 personalized benchmarking studies have been completed and delivered using the data from the valuation intake process (not survey data); (3) more than 1,200 closed transactions (sales or mergers to third parties) have been completed; (4) more than 1,750 continuity plans ...

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