A Focus On Succession

In this month's newsletter, we explore the latest developments surrounding the FTC's ruling on noncompete agreements and the potential impact it may have on financial advisors if the FTC appeals the order. We also feature an insightful blog on creating a strategic five-year plan, a client success story, and an eBook focused on intrapreneurial excellence. Dive in for valuable insights and resources!

Join us for this industry panel featuring experts James Fisher, Matthew A. Swendiman, Geoff Schiveley, and Stuart Smith. We discussed the new FTC ruling banning most noncompete agreements and its impact on wealth management advisors. Learn how to stay compliant, protect your firm’s value, and safeguard client relationships. Don’t miss this essential discussion. Gain access now!

Note: This piece is subject to update as new information is released.

Financial advisors and wealth management professionals often delay discussing their exit strategy, relying on a "Rolling 5-Year Plan." This approach can limit their options and lead to a lower business value when it's time to sell. By planning ahead and establishing a succession team early, advisors can ensure a smoother transition and maximize their business's worth. Begin planning now, whether you aim for an external sale or internal succession. Discover more about this process here.?

The Growth Machine:

Michael Lutz of Legacy Financial Strategies in Overland Park, KS understood that acquisition was a viable and smart path for growing his business. He wasn’t just looking to gobble up as many practices as he could, however, because he also understood that if he chose his targets strategically, he could not only grow his business but he could ensure its legacy by using acquisition as a vehicle to recruit Generation Two talent to his firm. Watch his success story and learn how he secured his legacy.

Aligning Entrepreneurial Vision with Internal Talent:

Once you‘ve built your business and established your team, it’s time to start building your legacy. Succession planning—or the process of gradually transitioning ownership and leadership within your business to the next generation of advisors—creates long-term, sustainable business growth that goes beyond the length of your own career. Powered by multiple generations of collaborative ownership, successful internal succession planning not only increases your business’s value, it protects it for years to come. Read the free eBook here!

Advice for Next-Generation Owners:

As industry leaders in designing and facilitating internal succession plans for financial advisory firms, the leadership team at FP Transitions has its own talented, multigenerational ownership team in place. Our next-generation leaders have unique strengths and perspectives that keep our business constantly innovating and growing. Read the tips and tricks on becoming a next-generation owner.

M&A Opportunities

Explore the list of financial services practices currently listed on the FP Transitions open market. Start Exploring!

Growing your business means evaluating and understanding each part of your business - through and through. Analyzing your business, identifying unique growth opportunities and effectively addressing challenges can be difficult if you don't know where to start. Our team can help.?

Click here to schedule a consultation with one of our experts.?