For You:

Builds long-term business value that can be more readily realized through an internal or external sale.

Expands your options and lowers the probability of finding yourself forced into a position where your options are limited (e.g., avoids “fire sales”).

Improves the long-term stability of your business, building reliability with clients and prospects.

Provides protection for you and your family in case of death or disability.

Allows you the ability to determine the best possible successor for your clients.

For your clients:

Provides confidence that they will be cared for in the future by the same firm that has taken care of them in the past.

Provides evidence that the firm will be there to continue to implement their long-term financial and investment plans for multiple generations.

For your employees:

Helps attract and retain excellent candidates.

Creates a career path in your firm.

Creates expanded opportunities to develop capabilities.

Where do I start?

To answer that question, consider these steps: