- Wirehouse and National Firm Advisors retiring in 10 years should consider maximizing what your practice can monetize for you over the next decade beyond payout.
- While staying at your firm and sunsetting with another advisor is the path of least resistance it is also the path of least amount of money.
- Monetize your practice through a 250% recruiting deal and then after 9 or 10 years move to the independent platform (without having to repaper your clients with some broker dealers), and then sell your practice for about another 250% of your recurring revenue.
- Using this approach, a $1 million revenue advisor would make an additional $5 million over the next decade in addition to your normal payout. Compare this to staying put for the next 10 years and then sunsetting.
- How would you financially advise yourself in maximizing what you’ll be able to retire with?
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