BOSTON, July 17, 2013 /PRNewswire/ -- As part of a larger survey of financial advisors on succession planning conducted by Mathew Greenwald and Associates, respondents were asked to react to an unnamed four-part succession planning platform, which is the one offered by Signator Investors, Inc.
Advisors had strongly positive reactions to the total program.
- A clear majority (89%) feel the proposed succession planning program is valuable, with nearly one-third saying it is very valuable
- Two out of three advisors say their current broker dealer either does not provide a succession planning program at all (25%) or provides one that is less comprehensive than the one described (38%).
- Three in ten (31%) would consider joining a new broker dealer in order to access the four-part plan they were described.
Components of the Signator equity and succession program include:
Part 1: Helps determine the value of the practice through valuation of the investment-oriented and insurance-oriented parts of the practice as well as the value of long-standing client relationships.Part 2: Aids in protecting the practice through assistance with setting up continuity planning, long-term succession planning, and assistance with client retention and valuation. Part 3: Provides assistance with growing the practice through identifying techniques for making the practice more valuable, assistance with protege identification and development, as well as assistance and financial support for an acquisition, if desired. Part 4: Helps realize the value of the practice through assistance in the sale of the practice to proteges or family members, identification of potential buyers if needed, financial support for the purchase, and help with transition of the practice Help determining the value of a practice is the most valuable component of the proposed succession planning platform, though each component is widely perceived to be valuable.
- Nine out of ten advisors feel that help determining the value of a practice would be a very (39%) or somewhat valuable (51%) component of the proposed succession planning platform.
- Nearly as many feel each of the other three components of the tested succession planning platform would be valuable, including aiding in protecting the value of the practice (28% very valuable, 56% somewhat valuable), help realizing the value of the practice (33%, 49%), and assistance in growing the practice (30%, 51%).