Answering the hard questions about succession planning

09/30/2013 | Advisor Perspectives

Financial columnist Bob Veres writes about the key issues advisers face in succession planning for their firms. Among them: founder syndrome, in which the founder's identity is closely tied to the success of the business, leading to resistance to change. Experts recommend including the founder in the transition as his or her involvement with the firm is phased out. It's also important to recognize that successors in advisory practices bring different skills to bear than the founders.

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