When you go into business, your attention is understandably focused on developing your business plan, driving sales and meeting the day to day needs of your clients. It may be time to think about preserving the value of what you’ve worked so hard to achieve. A succession plan helps to ensure that regardless of the circumstances, a smooth transition of your business can occur in the event of your retirement or departure from the industry. Additionally, have you considered how your business would continue in the event or your death or a disability? Most advisors haven’t thought about either, but they should.

Succession Planning

For financial advisors, retirement is typically not a one-time event, but rather an ongoing, long-term process. Such a gradual process should be carefully mapped out, with assumptions and tax implications considered well in advance. But, according to recent surveys, less than 10% of advisors have a written succession plan.

A predetermined exit strategy allows you to:

  • • Build equity value well before you transition the business
  • • Ensure continuity of service for your clients
  • • Provide for an efficient transfer of business to an advisor of your choosing
  • • Allow you to retire on your schedule
  • • Time your exit to maximize value
  • • Help remove emotional decision-making
  • • Eliminate the risk of a fire sale


Business succession plans, also commonly known as buy-sell agreements, outline the terms of the agreement and the value of the business or the method that will be used to value the business at time of sale. We’ve included several standard buy-sell agreements for your reference. Read through the different types of Succession Plan Agreements here and decide which one is right for you.


For additional information on succession planning contact Dave Bibo at WIS.
Phone: 408.640.3833

Business Continuity

If you aren’t ready to retire and haven’t contemplated a Succession Plan, consider how your business would continue in the event or your untimely death or a disability. Without an Assignment of Accounts and Commissions Agreement your book may be assigned to another advisor without your input. This may not be ideal for you or for your clients.

Access the Agreement by clicking the link below. Once an executed Agreement is on file with WIS, we will fulfill your request in the event you are unable to return to the office due to retirement, death or disability. Please contact Wendy Rea to coordinate the completion of the Assignment of Accounts and Commission Agreement.

  • • Assignment of Accounts and Commissions Agreement
  • Our Succession Planning Department can assist you by:
  • • Identifying your options
  • • Finding an appropriate buyer
  • • Providing models to determine the value of your business
  • • Providing financing assistance
  • • Ensuring your commissions are assigned as requested


Neither WIS or its affiliated companies or any representative gives tax or legal advice. These suggested strategies may not be suitable for everyone and each individual should consult with his or her own tax advisor before implementing any of the strategies discussed here. It’s also important to have your own legal counsel review any agreements to make sure all your needs are met.

For additional information on succession planning contact Wendy Rea at WIS.
Phone: 626.710.3118


Highland Capital Brokerage



Producer's Choice Network


  • Bond Support: 866.746.7075


2020 Fidelity Tax Information


2020 Pershing Tax Information


2020 Wedbush Tax Statement Mailing Dates:

  • 1099R - February 1, 2021
  • 1099R Consolidated - February 8-16, 2021
  • 480.6 (PR) - March 1, 2021
  • 1042-S - March 16, 2021
  • 5498 - May 31, 2021





Isela Ortega-Wu, CAMS

Courtney Valek, CFE, CAMS

Department Mailbox