PA360 North: Only 12% of firms have a succession plan

‘Actually start thinking and documenting your thoughts’

Ayesha Venkataraman
clock • 2 min read

Advisers should start preparing and documenting the succession plan for their business early, as the process takes between three to five years, delegates heard today (5 October).

Speaking at PA360 North, Benchmark senior business development consultant Dan Fairweather provided an overview of the current acquisition market and the ways in which to prepare adviser businesses, stressing the importance of early preparation. He pointed out that only 12% of firms have actually documented a plan. "The benefits of writing plans down are well recognised. The first top tip is to actually start thinking and documenting your thoughts," he said. He added that no matter the route taken, the preparation is exactly the same. "You need to start thinking about things earl...

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