Succession Planning

(3-7 Years Before Retirement)

Choosing a Successor: Identify a potential successor who aligns with your client relationships, leadership style, and investment philosophy. Whether internal or external, early planning is key to a smooth transition.

Where to Find Your Successor: Look internally within your firm or externally. Cedarwood can assist in finding and vetting candidates through our network of recruiters and partnerships.

Client Connection: Ensure your successor shares your approach to client relationships for a seamless handover. The right fit helps maintain trust and continuity.

(2-5 Years Before Retirement)

Business Valuation: Learn how your firm is valued based on profitability, revenue, and assets under management (AUM). We will coordinate with specialists to help you determine the fair market value of your practice.

Key Valuation Factors: Factors such as client demographics, fee structure, and growth history impact your valuation. Maximizing profitability now will increase your business's worth when you're ready to sell.

(1-4 Years Before Retirement)

Clear Agreements: Establish timelines for transition, payment structures, and workload shifts. Cedarwood helps navigate financing and structuring agreements.

Client and Team Communication: Start early by introducing your successor, involving them in client meetings, and preparing your staff. Cedarwood offers support for internal and external communication, ensuring a smooth transition for everyone involved.