Have you thought about who will take care of your practice when you retire or in the event you become disabled? Your clients probably have. Whether it is a planned event, such as retirement, or an unexpected event, such as disability or death, advanced planning will address concerns you have regarding continuing support for your clients and your loved ones.

Most advisors are focused on gathering assets and growing their practices—it’s easy to overlook the need to address what would happen to their practices if something were to happen to them. TLWM offers succession planning to maximize your practice’s value and ensure a smooth transition for you and your clients, should the need arise.

How does it work?

An advisor will sign a buy sell agreement with TLWM. Should an advisor die, become disabled or retire TLWM will pay them or their designated beneficiary a specified amount over the course of 7 years. TLWM utilizes FP Transitions, an independent valuation firm that specializes in working with financial service companies to determine the specified amount. More information on FP Transitions can be found at www.fptransitions.com

What about my clients?

TLWM will take great care of your clients and treat each one with care, kindness and the wisdom they deserve. We will work with them one-on-one to ensure a smooth transition, making sure we understand their goals, objectives and risk tolerance. Each client will be assigned a TLWM wealth advisor in order to establish a long-term relationship and provide the highest level of customer service.