Maturity Stage

Unique Challenges

  • Retirement: Today vs. Yesterday
    • How engaged do you want to be?
    • Do I want a lump sum payout, or a retirement income stream?
  • Key Man Risk
    • What if something unforeseen happens to me?
      • What happens to my family`s income?
      • What happens to my clients and practice?
      • What happens to my family?
    • What happens if a key relationship manager or business manager retires or leaves the firm?

Transition Phase: Continuity

  • Succession Issues:
    • Who is going to take over when I`m ready to retire or reduce my time in the business?
      • Internal Lieutenant
        • Are they capable of maintaining client relationships?
        • Are they capable of managing the business effectively?
        • What happens if they leave?
      • Outside Advisor
        • Will they be a good fit for my clients
      • Roll-up
        • Do I have to meet production minimums?
        • Have I lost control of my business decisions?
    • Can I trust someone internally now, or do I need to hire someone?
  • How do I get the most out of the equity in my practice?
    • Do I sell?
      • To existing employees?
      • To an outside firm?
      • How should I structure the agreement?
    • Do I merge?
      • Who would be a good fit?
      • What happens if it does not work as intended?
  • Contingency Planning
    • Prolonged Illness, Injury, Death
      • What are the impacts on your family, clients and business?

DKE Solutions

  • Our outsourced back office services are well documented and highly transparent. We also provide the resources and capabilities needed to streamline the transition from one generation of leadership and owner ship to the next. This is critical because research shows that practices with well documented procedures and protocols for managing client relationships and account structures ultimately earn higher multiples for practice valuations.