Navigating Equity Ownership Options for the Next Generation-Recording - Navigating Equity Ownership Options for the Next Generation

Recording - Navigating Equity Ownership Options for the Next Generation

Video Transcription

Video Summary

In this webinar, Mallory Boutin, a consultant at FP Transitions, discusses the topic of internal succession planning for financial advisors. She emphasizes the importance of understanding what it means to be an owner, why someone would want to be an owner, and whether becoming an owner is a good fit for them. Mallory also discusses the steps advisors can take to position themselves for ownership, including taking on additional responsibilities, contributing to the growth of the firm, and developing an ownership mindset. She also provides guidance on how to have a conversation with the current owner about ownership opportunities, including preparing in advance, understanding their perspective, and demonstrating the value that the next generation can bring to the firm. In terms of the logistics of internal succession, Mallory explains the timing, tranches or slices of ownership, financing options, and governance issues that need to be considered. Mallory concludes the webinar by emphasizing the importance of mentorship and collaboration in the succession process and encourages younger advisors to plan for their future and take an active role in shaping the growth and success of the firm they are a part of.

Keywords

webinar

internal succession planning

financial advisors

owner

ownership mindset

ownership opportunities

mentorship

collaboration

succession process