Firms Offer Support for Future Financial Planners

The Financial Planning Association (FPA) and FP Transitions have teamed up to help new financial planners find opportunities in existing firms' succession plans. 

In hopes of supporting younger workers in the financial planning industry, the Financial Planning Association (FPA) has added FP Transitions as the “Official Partner of the Next Generation of Financial Planners.”

The recent integration between the two firms is said to assist Certified Financial Planners (CFPs) professionals and the NexGen community who hope to create practical succession plans.

“We are pleased to have FP Transitions join FPA as a key partner in supporting our members and their desire for a seamless transition of their firms to the next generation of firm owners,” says Lauren M. Schadle, CEO/Executive Director of FPA. “Their support and contributions will directly benefit our members by providing the necessary knowledge and resources to help our young members become firm owners.”

FP Transitions has worked with registered investment advisers (RIAs) and more than 370 firms to unscramble conflicts with succession planning, a problem that has affected at least three in five small businesses, according to a Nationwide survey. In light of the partnership, the firm now hopes to recruit new talent in future generations, in order to maintain sustainable businesses after an owner retires.

“Over two-thirds of our succession clients have executed their plan, transforming over 700 next generation planners into business owners,” says Brad Bueermann, CEO of FP Transitions. “The greatest challenge for owners of successful financial planning firms is finding qualified next generation leadership. We want to make sure professionals entering the industry understand this opportunity and are prepared to act on it. Partnering with FPA was a natural decision to deliver that message.”