Succession and Exit Planning: What 40% of Advisors Must Face in the Next 7 Years with Nick Arellano

What’s the difference between a smart succession and a rushed exit?

Tyson Ray and Kim Cochenour are joined by Nick Arellano to discuss why treating your firm like a house sale is risky, and how valuation, growth, and planning shape your future.
This conversation will help you approach succession and exit planning – something 40% of advisors will face over the next 5-7 years – with clarity, confidence, and long-term vision.
● An estimated 40% of advisors are set to retire over the next 5-7 years.
● Many advisors treat succession just like selling a house – Nick explains why that happens and the potential risks of having that approach.
● Tyson shares the story of how getting a valuation impacted him, and what advisors in a similar position should consider.
● Nick goes over the key factors of valuation: growth, value, and profit.
● Kim stresses a misconception many advisors believe, as they think that’s valuation is only based on their revenue.
● The less you take upfront, the larger the value is going to be. The more you take in compensation, the lower the value is going to be.
http://TotalSuccession.com
https://TotalSuccession.com/podcast
FORM Wealth Advisors - https://FORMwealth.com
Tyson Ray - https://FORMwealth.com/tyson-ray
Kim Cochenour - https://FORMwealth.com/kim-cochenour
Nick Arellano on LinkedIn - https://www.linkedin.com/in/nickarellano14
https://www.YourLegacyPartners.com
nick@yourlegacypartners.com
The ALS Foundation - https://www.als.org
00:00:00 Start
01:59 Nick Arellano’s Background
03:57 What’s Currently Happening in the Financial Advising Industry
04:25 This Will Happen Within 7 Years
08:16 Succession is NOT Like Selling a House
11:36 Valuation is About 3 Things
13:10 Good Practices Advisors Should Have
17:29 Taking Something Out of the Business Now vs. Waiting Until Later
21:28 Tyson’s Experience Going Through a Valuation
24:38 Differences Between a Rushed Exit and a Smart Succession
26:48 Nick’s Encouragement for Advisors Currently in the 2-Year Timeframe
32:19 The Thing About Hiring
36:30 It Starts With the Advisor
38:19 Spending Money to Make Money
42:49 Retaining Good Talent
45:09 How to Get Nick’s Help
#career #lifecoach #selfimprovement

Видео Succession and Exit Planning: What 40% of Advisors Must Face in the Next 7 Years with Nick Arellano канала Total Succession