The Succession planning process is often two things – intricate and highly personal. The team at Jacko Law Group PC (JLG) knows that no firm/business is the same, thus there is no one-size-fits-all approach.
Ensuring that the appropriate Succession Plan has the right steps demand not only a methodical, logical and rational approach but also a personal and strategic touch.
The JLG believes that a succession/exit plan is integral to the continued success at any firm, as it serves as a comprehensive roadmap to navigate firms into unchartered waters. In short, succession plans ask and answers all the pivotal questions, including business, personal, financial, legal and tax questions for the organization firm.
When working with JLG, we break down succession planning in four defining stages which are Objectives/Internal Review, Valuation/Analysis, Strategies & Plans, and Implementation
Once you have determined your succession/exit goals and objectives a valuation of your firm should be conducted. This will give you a feel for the value of your practice.
At JLG, we see valuation as one of the cornerstones of the succession planning process. It is integral to not only know what your firm is worth, but it is nearly impossible to make informed succession decisions without a grasp on its value.
Valuation services may be deemed necessary at any point in your firm’s growth and expansion. During the valuation process, the JLG team is available to interpret, provide guidance and legal counsel. Our team, who is well versed in the process, understands the importance of reliable valuations of assets in the financial industry.
For more information or to speak with a securities attorney, call our law office directly at 619.298.2880 or contact us online.
Legal Risk Management Tips
- Securities Law & Corporate Counsel Blog, 06.18.2021
- Securities Law & Corporate Counsel Blog, 06.17.2020