It is recommended that you review this document in conjunction with the Business Succession Planning Pathway and the Peak Accumulation lifestage. Each lifestage has a complimentary checklist which outlines the requirements and process to comprehensively service that market. The Practice Enhancement section also provides valuable tools to support your strategic development.

This pathway is important because planning your own succession helps you better understand the process and assist client with their succession planning needs. Our philosophy is that the sooner you start planning your own succession, the easier the transition will be and most importantly you will get improved outcomes.

3 AS strategy is aligned to practice succession as practices are encouraged to build long term relationships with ageing clients and their families. This develops a sustainable practice culture which is reflected in the capital value of a practice when it is sold. The recruitment of a younger successor adviser is encouraged, to work with the inheriting generation, and provides the principal with a trained purchaser for the practice. Bottom line - practice succession is good for the principal, the team and the clients.

If you require assistance using 3AS please review the Navigating 3AS section, This email address is being protected from spambots. You need JavaScript enabled to view it. or call 1300378752.

Section 

 

File      

 

Description          

       

  File  Type                 

 

 Practice Enhancement

 

 

 PE 2.02 Importance of Planning The reason you need a plan and the benefits you can expect to receive when you mantain a practice plan Document

 

Practice Enhancement

 

 PE 2.03 Vision and Values Vision and values should be part of your strategy Document

 

Practice Enhancement

 

 PE 2.10 Practice Succession A succession plan is an important part of your  practice strategy Document

 

Peak Accumulation

 

 PA 2.02 Baby Boomers and Succession Planning Preparing your practice and your clients businesses for succession. Document

 

Peak Accumulation

 

PA 2.06 Succession Planning Service Offer  Suggested succession planning process along with prospecting strategies and case studies to help prepare for a succession planning engagement Document

 

Templates

 

14.9 Adviser Remuneration  Guide to remunerating the successor adviser Document

 

Peak Accumulation

 

 PA 5.03 Case Study Succession and the Next Generation Bringing in the next generation Document