Top Ten Reasons Why Financial Planners Don’t Need A Transition Plan…


  1. I choose to pay higher taxes when my practice is sold.
  2. I want my heirs to receive less value for my life’s work in the event of my sudden death.
  3. I don’t want my heirs to have any say in the final disposition of my practice; I want to leave it up to my broker dealer to decide what is best for my family.
  4. I don’t want to provide any incentives to my employees or associates that could be available with a proper disposition plan.
  5. I don’t really know what the value of my business is and I don’t care to know.
  6. Future planning is something I do for my clients, but I don’t need it.
  7. I don’t need the extra income from a properly drafted transition plan
  8. My spouse, children and grandchildren have more money that they know what to do with and any extra money would just make things worse.
  9. I will be in a better mental state to develop my plan after I get Alzheimer’s Disease.
  10. I follow the Laws of Life in managing and planning for my business:
    • Murphy’s Law – If something can go wrong, it will.
    • Kelly’s Law – If you think things are getting better, you overlooked something.
    • O’Tool’s Law – Murphy was an optimist.
    • Howe’s Law – Everyone has a scheme that will not work.


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