OCTOBER 2020: Tips for the NexGen Community

Next Generation Planner: October 2020


The FPA community shares advice on what you should do when you want to buy into a financial planning firm.


“Have a lawyer involved.”

Sandy Travis, AAMS®
Wealth Manager, Cetera Advisor Networks LLC


“You must have a willing seller and a willing buyer. Get an independent compliance audit. If it’s a C-corp, consider a repaper strategy.”

Julie Anderson Bray, CFP®
President and Wealth Manager, GW Financial LLC


“Use a third party, like FP Transitions, to help both parties through the process.”

Jon Luskin, MBA, CFP®
Financial Planner and Fiduciary, Define Financial


“Get it in writing. There is no such thing as a verbal deal.”

Alan Moore, MS, CFP®
CEO of XY Planning Network and CEO of AdvicePay


“[Get it in writing]. Please heed this advice everyone. I spent four years learning this the hard way while incurring major opportunity costs and have met several others that did the same. Save yourself the stress and heartache.”

Dustin Weaver, APMA®, CRPC®
Financial Planner, Barnes Wealth Management Group


“Here are three things to know about yourself before you consider ownership in a business:

Are you an entrepreneur?
Are you ready to take on risk?
Are you ready to work longer than 40-hour weeks?”

Kathryn Mallon Taylor, CBEC®
Consultant, FP Transitions

Practice Management
Career stage
Learning / Aspiring