Succession Planning Simplified

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Posted on June 8th, 2016

Simple, turn-key succession plan that gets you value and stops the procrastination

If you qualify, Beacon Hill will provide a succession plan that will satisfy regulators, protect your clients, and will provide you or your heirs with a fair value for your life’s work.

  • Simple- We take care of all the documentation. This will be fair and straightforward, but not customized.
  • Revocable- If you get an internal successor or a better deal, just email us to dissolve the agreement.
  • Fair- We pay you or your heirs 25% of gross revenues for 6 years. We do not have a duty to retain any staff or legacy expenses.
  • Confidential- Keep your client contacts confidential. You choose whether to tell your clients about the agreement.

Qualifications:

  • Fee-only business
  • Clean regulatory history
  • $20m in AUM and $180k annual revenue minimum

Did you know: A succession plan is an integral part of the Business Continuity Plan required by regulators?

To emphasize this point, NASAA (North American Securities Administrators Association) just passed their model rule this last spring, “Business Continuity and Succession Planning” 203(a)-1A.  Many states are now expected to include in their language.  Examiners will begin to include this in their examinations.

Specifically required is “assignment of duties to qualified responsible persons in the event of the death or unavailability of key personnel”.

Find out more here.