According to Carson International Alliance, the majority of financial advisors are currently unprepared for their exit. (See infographic).

Lack of a Marketing Plan

  • 42% of advisors surveyed by Carson who were within two years of exit had not started a succession plan.
  • 60% of all advisors did not have succession plan in place. For those firms that have a plan in place, though, only 7% could be realistically implemented.
  • 75% of advisors have not contacted a third party firm that specializes in succession planning for an independent evaluation.
  • 90% of advisor’s plans were not tied to the actual value of their business.

But there’s hope for those who have not yet planned. Advisory firm owners that have implemented a succession plan saw, on average, three times the revenue and twice the profits of business owners that planned ad hoc.

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