RIA Succession Planning: How to Sell Your Practice for More

RIA Succession Planning: How to Sell Your Practice for More

Are you feeling like a prisoner in your current broker-dealer or wirehouse setup? The wealth management industry is seeing its most robust M&A market in history, and now is the time to decide how you will protect your legacy and maximize your firm’s value. Whether you are looking to exit soon or just want to build a more scalable practice, understanding the current landscape is essential for every financial advisor. In this episode of the Total Succession Show, host Tyson Ray is joined by industry experts to pull back the curtain on modern M&A trends. We dive deep into why multiples are skyrocketing for operationally efficient firms and what it really means to move from a corporate RIA to an independent model. You will learn the critical differences between integrators and aggregators, and why finding the right cultural fit is often more important than the final sale price. We also explore the hurdles facing the next generation of advisors, including the rising cost of equity and the tax implications of internal transitions. Plus, hear a real-world success story about merging with a larger platform to offload compliance and HR burdens while maintaining the independent spirit that your clients love. These conversations are designed to give you the nudge you need to start preparing for what comes next. Ready to take the next step toward a well-planned exit? Subscribe to the show and visit totalsuccession.com/podcast to download your free starter guide. You can also find Tyson Ray’s book, Total Succession, on Amazon to learn the five clear steps to exiting on your terms with confidence and full compensation. TotalSuccession.com [http://totalsuccession.com] TotalSuccession.com/podcast [https://totalsuccession.com/podcast] FORM Wealth Advisors [https://formwealth.com/] Tyson Ray [https://formwealth.com/tyson-ray/] Kim Cochenour [https://formwealth.com/kim-cochenour/] Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First [https://amzn.to/478ySrx] Ted Motheral [https://www.linkedin.com/in/ted-motheral-36b4798/] on LinkedIn Dave Patchen [https://www.linkedin.com/in/david-patchen-20a865b] on LinkedIn Scott W. Danner [https://scottdanner.com] Steward Partners [https://www.stewardpartners.com/index.cfm]

Business Succession for Ages 45-60: It’s Not Just for Retirement

Are you building for a distant future or for the life you want to live right now? Many business owners wait too long to plan their next chapter, but shifting your mindset from exiting to what is next can change everything. Welcome to the Total Succession Show with Tyson Ray and Kim Coconour. In this episode, we explore why the word “exit” feels so emotional and why it is time to change our language to focus on what comes next. Whether you are a financial advisor or a business owner, learning how to live your legacy instead of just leaving one is the key to a fulfilling career and retirement. We dive deep into the psychology of succession, discussing why the 45-to-60-year-old demographic is leading the charge in business pivots. You will learn about overcoming the scarcity mindset that often freezes owners at the finish line and how to find impact that goes beyond your daily work schedule. We also discuss the importance of trusting your gut and why delegating tasks is the only way to elevate yourself to your next big move. By using the SPACE framework, you can move through the stages of seeing, preparing, acting, and committing to your future with confidence. TotalSuccession.com [http://totalsuccession.com] TotalSuccession.com/podcast [https://totalsuccession.com/podcast] FORM Wealth Advisors [https://formwealth.com/] Tyson Ray [https://formwealth.com/tyson-ray/] Kim Cochenour [https://formwealth.com/kim-cochenour/] Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First [https://amzn.to/478ySrx] Scott W. Danner [https://scottdanner.com] Steward Partners [https://www.stewardpartners.com/index.cfm] Dave Patchen [https://www.linkedin.com/in/david-patchen-20a865b] on LinkedIn Andrea Schlapia [https://ironstonehq.com/team/andrea-schlapia/] Ironstone [https://ironstonehq.com]

How to Prepare Your Business to Sell at Any Time

Are you building a business that is ready to sell at a moment's notice, or are you just getting by? In this episode of the Total Succession Show, host Tyson Ray is joined by Kim Cochenour to discuss why you should always be prepared for an exit, even if you aren't planning to leave today. Learn how to transition from being the bottleneck in your business to creating a high value, scalable asset. The conversation highlights the importance of transitioning from being the god of your business to being a prophet by implementing scalable systems. We explore the SPACE framework, which stands for See, Prepare, Act, Commit, and Exit. Kim shares her personal journey of realizing her business wasn't ready for sale and the vital steps she took to fix it, including hiring consultants and tightening legal documentation to ensure every contract was dialed in. We also break down how the Entrepreneurial Operating System or EOS can help you get the right people in the right seats and improve your valuation through better processes and data. Key topics covered include the six components of the EOS model, the importance of a ninety-day cadence for recalibration, and why repeating your vision seven times is necessary for your team to truly hear it. Whether you are looking to merge with an aggregator or just want a healthier leadership team, this episode provides a roadmap for a confident and well-planned exit. Ready to take the next step in your succession journey? Grab a copy of the book Total Succession on Amazon today for a deep dive into the five clear steps for exiting on your terms with confidence and full compensation. You can also visit our website at totalsuccession.com/podcast to download a free starter guide that walks you through the SPACE framework. Don't forget to subscribe for more episodes designed to support your next move. TotalSuccession.com [http://totalsuccession.com] TotalSuccession.com/podcast [https://totalsuccession.com/podcast] FORM Wealth Advisors [https://formwealth.com/] Tyson Ray [https://formwealth.com/tyson-ray/] Kim Cochenour [https://formwealth.com/kim-cochenour/] Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First [https://amzn.to/478ySrx] Andrea Schlapia [https://ironstonehq.com/team/andrea-schlapia/] Ironstone [https://ironstonehq.com] Scott W. Danner [https://scottdanner.com] Steward Partners [https://www.stewardpartners.com/index.cfm]

Don't Leave Your Business on a Post-It: Exit Strategy Tips

Is your succession plan sitting on a post-it note, or is it a documented strategy for the future? Many financial advisors delay planning because it feels emotional or scary, but treating your exit as a long-term business strategy is the key to protecting your legacy. Hosts Tyson Ray and Kim Cochenour, are joined by special guests to discuss the realities of moving from a single-owner practice to a leadership-team-run business. We dive deep into why exit planning should not be a one-time event, but rather a purposeful strategy to increase the value of your practice and ensure your clients and team are taken care of. Key topics covered in this conversation include: * The emotional barriers that keep advisors from planning for what is next. * The difference between a catastrophic plan and a true succession strategy. * How to use the principles of vulnerability-based trust to build a stronger leadership team. * Why verbal agreements mean nothing without legalized documentation. * A look at industry statistics showing why the next decade is critical for firm owners. * Real-world examples of how preparation leads to successful partnerships rather than just acquisitions. Whether you are looking to retire soon or just want to step away from the tasks that drain your energy, this episode provides the roadmap you need to exit on your own terms. TotalSuccession.com [http://totalsuccession.com] TotalSuccession.com/podcast [https://totalsuccession.com/podcast] FORM Wealth Advisors [https://formwealth.com/] Tyson Ray [https://formwealth.com/tyson-ray/] Kim Cochenour [https://formwealth.com/kim-cochenour/] Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First [https://amzn.to/478ySrx] Andrea Schlapia [https://ironstonehq.com/team/andrea-schlapia/] Ironstone [https://ironstonehq.com] Ted Motheral [https://www.linkedin.com/in/ted-motheral-36b4798/] on LinkedIn

Building Teams for Succession Planning: Why Asking Before Telling Changes Everything with Kaleen Barbera

Building a team and making it work are two different things, especially when succession planning depends on your relationship with your next-gen advisor. Hosts Tyson Ray and Kim Cochenour are joined by JAM Consulting Group’s Kaleen Barbera to discuss and explore the behavioral science behind effective teams. Feelings come before facts, asking before telling builds connection, and acknowledging different opinions aligns everyone toward a common goal. * Kim Cochenour kicks things off by stressing that advisors need to remember that building a team and making it work are two totally different things. * Guest Kaleen Barbera shares her story of 30+ years in the financial services industry. * Building better relationships with advisors and helping them grow their practice have been two key areas of focus of Kim’s. * From a behavioral science perspective, there are several things that make a team work, including structure, asking before telling, and acknowledging that feelings come before facts. * If we’re unable to engage each other in a way that builds connection, it’s going to be truly difficult to align and reach a common goal. * Kaleen touches upon a client who she has helped build a better relationship with his team. * Acknowledging that someone might have a different opinion is important, especially when it comes to succession planning and your next gen advisor. * Tyson opens up about the transformation he underwent as a leader and how that has impacted his firm. * Kaleen lists a few things that should spark the need – or the possibility – of asking for help as a financial advisor. * It took Tyson some time to start letting go and creating space for others to step in. * When it comes to financial planning, one of the fundamental steps is to highlight what the cultural values and team philosophy are. * Tyson, Kaleen and Kim talk about the importance of the vision part, and what founders should do when they have an idea in their head. * Kim sees the S.P.A.C.E. framework as something that can be applied even just to your team members. * Tyson, Kaleen, and Kim end the conversation by discussing how (and when) JAM Consulting Group could help financial advisors and leaders. Mentioned in This Episode: TotalSuccession.com [http://totalsuccession.com] TotalSuccession.com/podcast [https://totalsuccession.com/podcast] FORM Wealth Advisors [https://formwealth.com/] Tyson Ray [https://formwealth.com/tyson-ray/] Kim Cochenour [https://formwealth.com/kim-cochenour/] Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First [https://amzn.to/478ySrx] Kaleen Barbera [https://jamconsultinggroup.com/kaleen-barbera/] JAM Consulting Group [https://jamconsultinggroup.com/]