Business Success Knowledge Circle: A Step-By-Step Succession Planning Process and Procedure
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Many financial advisors are reluctant to explore the issue of succession planning possibly due to the uncertainty and emotions that naturally surround any major life transition. Attendees will learn that having an understanding of nuts and bolts of the process is an effective first step to empower themselves to successfully transition their business. The ultimate goal is to exit their business gracefully and transition joyfully into their “Third Act.”
- Identify the process and techniques used to sell a sole proprietor small business.
- How to find a well-matched buyer?
- Apply appropriate post-sale steps of transitioning clients to the new buyer.
- Describe major business differences that could derail the transition process.
- How do you know if you have found a well-matched buyer?
Emily M Chiang, CFP®, MBA
Emily had 25 years of career in financial planning and investment management and 35 years overall in the financial services industry. After a very gratifying career, Emily sold her practice by herself in 2013. After she completed the transition, she wrote "Selling Your Financial Advisory Practice, A Step-By-Step Workbook." Since 2015, she has been serving as a co-host with FPA Knowledge Circle Business Success webinar program. In 2016, Emily created her succession planning course based on her workbook. In January, 2017, Emily received “Planner of the Year” award from FPA National Capital Area (FPA NCA) to recognize her work on succession planning. From June, 2017 to May, 2021 Emily was a member of Journal of Financial Planning Editorial Advisory Board. She presented her succession planning course to 2019 FPA annual conference and numerous FPA chapters. She has been invited to present her course at Ed Slott’s Elite Advisor Conference in October, 2022. She is a member of FPA Speaker Directory. Contact information: Emily@EMCSuccessionplanning.com
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