PLANADVISER Weekend Newsdash
Week ending December 7th, 2018

Happy Friday, readers! This weekend’s mailing focuses on the timely topic of succession planning. While the issue has received more attention in recent years, retirement industry research shows advisers have yet to fully embrace more formal succession plans. As such, their practices and their clients are exposed to unnecessary risk. Collected below are some strategies and suggestions for how to approach succession planning. We hope you share some of what you learn with a client or colleague.

Succession Planning Essentials
Succession Planning Essential for Long-Term Advisory Growth
Data shows many small business owners continue to work later in life, making them ripe targets for retirement advice and deep support with succession planning and wealth transitions.  Read more >
A Mere 27% of Advisers Have a Formal Succession Plan
When it comes to valuing and transitioning their business, 61% of advisers have a goal for the value, and 48% used a recurring revenue multiple to calculate that goal. Read more >
An Alternative to Traditional Succession Planning
A lack of succession process readiness, along with valuation issues, makes selling an independent advisory practice unfavorable for many advisers, says a new CLS Investments analysis. Read more >
Home Offices Must Get More Active In Staff Succession Plans
Troubling, many of the companies that say they have formal succession planning programs in place in truth dedicate very few hard-dollar resources, if any, to help. Read more >
ESOPs Present Business Transition Planning Opportunity
Some ownership transitions are designed to wring every last dollar possible out of the business, but this is simply not what ESOPs are about. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

Democrats Have Won the Power to Fix Union Pensions
A bipartisan compromise solution to end the multiemployer pension crisis is urgently required, sources agree, and one could finally be forthcoming in the U.S. Congress.
HUB Names New Leader for Retirement and Private Wealth

PLANADVISER has learned that HUB International has named Joe DeNoyior as the new leader for Retirement and Private Wealth.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
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