Why advisors should prioritize next-gen planning

Advisors are making a succession planning list and checking it twice.

After all, “succession planning is a huge deal,” said Ryan Halliday, managing partner at Crewe Advisors.

“One of the things the SEC investigates in their examinations [of firms] is what your succession plan is. We have a fiduciary responsibility to take care of the clients of the firm, and part of that is making sure there's a succession plan in place,” he said.

“It’s important that you build your firm, or as you're managing your book of business, you’re considering the qualities and the capabilities of people.”

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