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Procrastinate On Purpose
Written by David Grau, founder of FP Transitions (which has facilitated more than 5,000 valuations of advisory firms and over 1,200 transactions), this book details Grau’s accumulated views, wisdom, and experience about how best to execute a succession plan in an advisory firm — a notable topic given the demographics of today’s financial advisors, especially there is still a remarkable dearth of books and content on best practices in succession planning.
In the book, Grau digs into everything from when a formal succession plan should begin, how to structure it to incentivize the next generation and provide a comfortable financial transition for the founder, and how to restructure key aspects of a practice to make it more transition-able in the first place. Notably, though, the book is not “just” for advisory firm owners, but may also have relevance for ‘junior’ advisors who want to start the ownership and succession planning discussion with the principal(s) of their firm.