Succession planning is of paramount importance to every advisor as it is a direct, financial reflection of the valuation for an advisor’s book of business and lifetime of hard work and achievement. Yet the fact is, the cookie cutter approach for succession planning which most firms offer – and which most advisors are familiar with – simply isn’t the best way. In this episode, Elite Consulting Partners CEO Frank LaRosa is joined at the whiteboard by COO Dale Dempsey to discuss the innovative strategy Frank has trademarked called dual-monetization. Dual-monetization is a potentially lucrative strategy as it allows an advisor to capitalize on both transition and succession bonuses. Join Frank and Dale as they crunch real numbers and show how the dual-monetization approach can realize a massive increase to your succession payout upon retirement.
Key discussion points include:
1) Why strategic succession planning is important to every advisor and their future.
2) What dual-monetization is, how it differs from traditional succession planning, and the particular benefits the strategy offers.
3) The financial upside of dual-monetization illustrated through real-numbers and translated to both the W-2 and 1099 models.
As an advisor you spend your days strategizing the financial success of your clients. Isn’t it time to invest in strategizing for your own financial success as well? Listen in to this episode and find out if dual-monetization might be the key you have been looking for to achieve the financial goals and future aspirations you have set for your business and career.
