NFP Advisor Services Unveils Succession Planning Tools

NFP Succession Planning is a transition readiness program that shines a light on the critical components of a buy or sell opportunity so that financial advisers can maximize the benefits of either type of transaction.

The resource assesses an adviser’s immediate as well as long-term needs to provide a customized timeline, and can then offer specific guidance for advisers and practices. A planning guide helps users to prepare the information necessary to execute an effective plan of action. Consultants with NFP Succession Planning can help secure financing for a buy or sell transaction by directing advisers to sources experienced in such transitions.

“Succession planning is of critical importance in the area of wealth management,” says James Poer, President of NFP Advisor Services. One in ten financial advisers is over 60 years old, he points out, and mergers and acquisitions (M&A) consultants suggest that owners begin preparing for succession up to 10 years before an anticipated transition. “Yet most advisers haven’t even started,” he says. The tools will uniquely position advisers with NFP Advisor Services to enhance the value of their practice or evaluate a practice they might purchase, before making their future plans.

A previous study on best practices for succession planning by NFP Advisor Services and the Aite Group is available online. (See “Planning for a Succession? NFP Study Explores Maximizing Practice Value.”)

NFP Advisor Services is division of NFP, National Financial Partners Corp.