As a financial advisor, you dedicate your career to guiding clients through life’s financial complexities. But have you given the same attention to the future of the business? If you don’t have a succession plan in place, you’re not alone. Many advisors push off this critical decision, unsure of how to maximize the value of their practice while maintaining flexibility and control. However, delays can lead to missed opportunities and reduced liquidity value when the time comes to transition.
Having an independent practice still requires community and partnership, and Legacy Private Wealth Partners supports both endeavors. We think a well-structured succession plan should provide you with options — allowing you to maximize your business’s value, simplify the process, and ensure continuity for your clients. When you consider what comes next for your practice and your book of business, consider how joining a practice like Legacy can help the entire life cycle of your practice.
Flexibility
Some advisors who seek independence and flexibility end up forming their own RIA (registered investment advisory), but that comes with its drawbacks. Advisors who do this end up spending only 35% of their time with clients. The rest is consumed by back-office tasks like compliance, operations, and business management. That’s a significant trade-off that can reduce both the growth and ultimate value of your practice.
Advisors who work with Legacy tap into our back-office support systems and our RIA affiliation with Concurrent. This support allows advisors to focus on scaling their business while joining a network that opens up succession opportunities.
Control
Many advisors hesitate to create a succession plan because they fear losing their autonomy. But planning for the future doesn’t necessarily mean giving up control. In fact, the right partnership can provide you with more options, enabling you to transition at your own pace while maintaining the level of client service you’ve built over the years.
By partnering with an established firm as an independent financial advisor, you gain access to infrastructure and support, allowing you to focus on what you do best — serving your clients — while still maintaining decision-making authority.
Maximized liquidity value
A succession plan isn’t just about finding someone to take over your book of business; it’s about maximizing the value of your life’s work. The key is optionality. Rather than locking yourself into a single exit path, a strategic partnership provides multiple ways to unlock your practice’s value.
We help advisors structure deals that align with their personal and professional goals, whether that means a gradual transition, an outright sale, or a hybrid approach that allows for continued involvement. With the right structure, you can enhance your firm’s liquidity while ensuring a seamless transition for your clients and team.
Succession made simple
Many advisors delay succession planning because it seems complex and daunting. But, with the right partner, it doesn’t have to be. The Legacy approach is designed to remove the burden, streamline the process, and give you confidence in the future of your practice.
Whether you’re five years away from retirement or simply looking for a contingency plan, having a strategy in place ensures you’re prepared for any scenario. By partnering with Legacy Private Wealth Partners, you gain the support, structure, and expertise needed to execute a plan that protects your legacy, maximizes your business’s value, and provides you with the flexibility to transition on your terms.
Don’t let uncertainty hold you back. A strong succession plan isn’t just about the future — it’s about creating more opportunities today. Let’s start the conversation and explore how we can help you achieve your ideal outcome.
