Asset managers and exchange traded fund financial advisors should begin to think about where their businesses are heading as they enter their golden years.

ETF Trends’ Tom Lydon recently sat down with Todd Clarke, CEO of CLS Investments, to look at ways financial advisors can modify their businesses as they begin to plan out a beach side retirement alongside their clients.

“There are individuals that enjoy managing portfolios – they use ETFs as well, but eventually, they’re going to pass on and they need to have a back-up plan for their heirs,” Clarke said. “The same holds true for advisors.”

Consequently, more advisors are beginning to look at succession planning.

Financial advisors who want ot learn more about adapting their business can head over to CLS Investments’ AdvisorIQ section.

“Options are emerging for succession planning beyond the typical solution of selling a practice,” according to CLS Investments. “For many advisors, selling their businesses will not provide the financial means to fund their own retirements. In addition selling may not be in the advsor’s best interest, or may not be what the advisor truly wants with his or her careers.”

Watch the video below to see the full interview with Todd Clarke.

To view past video interviews, visit our video section.