Continuity Planning is Essential for Financial Advisors – Take Action Now!
Recognizing a critical gap in advisors’ understanding of the difference between continuity plans and succession plans, Securities America has designated October as “Continuity Planning Month.” The independent broker-dealer is providing educational webcasts, agreement templates, an informational video and other resources such as a Continuity Planning Checklist to help advisors stop procrastinating and put a written plan on file.
TALES FROM THE TRENCHES
Securities America advisor Tim Boyd of San Diego said a continuity agreement would have greatly helped in the fall of 2008, when the industry faced a financial crisis and his office partner died suddenly while jogging.
Read financial advisor Tim Boyd’s story now.
ADVISORS AS STEWARDS
“Advisors are stewards who direct, guide and care for the financial wellbeing of their clients,” said Kirk Hulett, Securities America executive vice president of strategy and practice management. “In focusing their attention and expertise on clients, advisors may overlook their important role as stewards for their family and their employees, whose well being is also dependent on the advisor. A continuity plan protects all the people under an advisor’s stewardship – family, employees and clients.”
Kirk provides 10 Reasons You Needed a Continuity Plan Yesterday in this article he penned for AdvisorOne.com.
CONTINUITY PLANNING / SUCCESSION PLANNING
“Advisors who lump continuity planning into succession planning miss the point: the risk of dying today versus the relative certainty of retiring tomorrow,” said Roger Verboon, a senior practice management consultant at Securities America who coaches advisors about continuity planning.
Roger provides his insights about continuity planning and how it is different from succession planning in this 15 minute audio interview with Marie Swift.