Genworth New Hire to Help Advisers with Succession Planning

Matrisian is GFWM’s new vice president and director of practice management. Through GFWM’s Mastery Program and other practice management offerings, he will lead a team dedicated to educating financial advisers on the importance of transferability; that is, the ability for the business to thrive once the lead adviser retires.  

According to a press release, Matrisian brings more than 15 years of experience assisting advisers in developing acquisition strategies, managing the mergers and acquisitions process, firm valuation, buy/sell side representation, succession planning support, consulting on practice management issues, and developing sustainable growth strategies.   

He holds a Bachelor of Arts degree in Finance from the University of South Florida and a Masters of Business Administration from the University of Florida. 

Genworth said a recent study reveals that nearly half of today’s financial advisers plan to leave the industry in the next few years, and fewer young professionals are entering the profession each year, making succession planning a high priority for the industry. 

According to Genworth, the key to unlocking the challenge of transferability lies within three best practices: 

• Outsourcing as many of the firm’s non-core competencies as possible, which frees valuable time for lead advisers to focus on financial problem solving, client relationship management and business development; 
• Creating systems and procedures that consistently govern all aspects of the adviser’s business; and 
• Evaluating financial models to maximize the value of advisers’ businesses.