Legal Support for Your Succession Journey

Preparing your firm for what lies ahead is a fundamental tool for navigating the financial industry. For this reason, succession planning is an integrated, systematic approach to identifying, developing, and retaining key components of your firm’s continued corporate growth.

Questions often asked as part of the Succession planning process include:

    • How can I identify a successor?
    • Will the successor be taking over the RIA itself, or just its assets?
    • Who is going to do the work?
    • Procedurally, what has to be done?
    • Specifically, what has to be done?
    • What is my company worth and how should it be valued?

To help steer your business toward the future, our team at Jacko Law Group, PC (“JLG”) can:

    • Review the current business/corporate structure of your firm
    • Identify the target successor (internal vs. external)
    • Review, navigate & direct how the transition is going to occur & the coverage needed for a short term, long term, or both
    • Negotiate and facilitate the buyout, Employee Stock Option Plan (ESOP) and/or key person insurance (assuming permanence)
    • Draft succession plans and contracts as needed
    • Memorialize the comprehension of the succession plan by your firm

Valuation Counsel

The succession planning process is often two things—intricate and highly personal. The team at Jacko Law Group, PC (“JLG”) knows that no firm or business is the same, thus there is no one-size-fits-all approach that can be taken. To ensure that a succession plan takes the right approach demands not only a methodical, logical, and rational approach, but also a personal, strategic touch.

At JLG, we believe that an appropriate succession/exit plan is integral to the continued success of any firm, because it serves as a comprehensive guide for firms to navigate in uncharted waters. In a nutshell, succession plans ask and answer all the pivotal questions—business, personal, financial, legal and tax-related—for the organization firm. 

We break down succession planning in four stages:

Objectives & Internal Review

Valuation Analysis

Strategies & Plans

Implementation

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