succession Planning services

Guiding your business transition to the next generation

Don’t leave the future of your business to chance. Prepare for the next generation of ownership by partnering with our experienced professionals to navigate the complexities of succession planning and protecting the legacy of your business.

With LPL’s comprehensive Succession Planning Services, you’ll be guided through the process of exploring and assessing your short- and long-term succession planning options — so you can make educated decisions that best meet your transition objectives.

Succession Planning Services provides you with:

An actionable roadmap and timeline for implementation
Guidance for creating a profitable entity that can carry on into the future
Education on transition and financing strategies to provide the information you need to make informed decisions

Why is succession planning important?

Having a well-designed succession plan helps to ensure a smooth transition to the next generation by anticipating, considering, and managing critical elements such as organization, compensation, and profit structures. A succession plan includes an actionable roadmap and timeline to implement, so you’ll be able to:

Enhance the ultimate value of your practice
Create a viable, stable, and profitable entity that can be perpetuated into the future
Support the growth and profitability of your practice that’s necessary to attract, retain, and reward a multigenerational team of owners

"My son and I were struggling with how to transition my practice to him and we couldn’t come to a resolution. The Succession Planning team gave us a clear path to structuring a deal that was fair to both of us. It was a wonderful experience and well worth the cost.”

Dana Binsbacher, President, AAMS®, AIF®, CEP®, CRPC®

Integrated Wealth Management Group

Key Benefits

Implement a plan your way

You’ll have a customized roadmap with actionable recommendations, a timeline, and the executional resources you need to implement your succession plan.

Empower next-gen owners

We help you and your team understand and implement appropriate corporate governance measures to help ensure that current leadership is maintained while future leadership gains a voice and a hand in the process.

Mitigate conflict and risk

Anticipate and address the potential for future conflict that may seem unlikely now, but could affect you, your clients, and your practice long-term.

FAQs

Who needs to be involved in the succession planning consultation process?

We believe a transparent process yields the greatest success. We encourage both founders and successors to participate in the planning process so everyone fully understands the opportunities and obligations of small business ownership.

How does the process work?

The Succession Planning team will facilitate a structured agenda of discussion topics, providing you with educational materials and guidance along the way. Over the course of approximately two to three months, we will cover all aspects that play a significant role in shaping your practice and your succession plan, including:

Discovery: Learn about your firm, business goals, and personal goals
Plan design: Establish a transition timeline, pricing, financing, and rights/restrictions of existing owners and the next generation
Implementation: Execute the initial phase of your succession plan

What if I don’t have in-depth knowledge of what’s included in a succession plan?

We provide guidance, answer questions, and share educational materials so you’re informed throughout the process. This includes resources for:

Corporate structure and business recapitalization
Operating/shareholder agreements
Voting rights
Employment agreements with samples
Partner progression programs
Valuation reports and data request
Cash flow projections

Ready to determine if succession Planning Services is right for you?

Schedule a call with a Business Solutions consultant

LET'S TALK

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