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It looks like the financial services industry is progressing towards a succession crisis. Are advisors ready to handle it?
This week, Shannon Spotswood interviews David DeVoe, the Founder and CEO of DeVoe & Company, about the current state of M&A activity and succession planning in the financial advisory space.
Together, they highlight the succession crisis in the field and the importance of succession planning. David also talks about the challenges and barriers to succession planning, the factors contributing to a firm’s success, and the impact of marketing on the industry.
David discusses:
- M&A activity and succession planning in the financial advisory arena
- The current state of M&A activity and its future outlook
- The potential for a succession crisis in the industry and reasons why succession planning is so important
- The challenges and barriers of succession planning
- Ways psychological factors impact succession planning
- Reasons we need radical change within firms to attract and retain next-generation advisors
- What factors contribute to the success of a firm, including profitability and risk factors
- Proactive strategies for driving higher valuations and protecting an organization’s future
- And more
Related: Driving Trust, Growth, and Innovation in Wealth Management With Eric Clarke