Explore TAG Advisory Services’s latest blog posts, expert advice, news, and commentary. Learn more about the features of our innovative blog here.

Bridging the Gap: Transgenerational Wealth Planning

Transgenerational planning is a holistic approach to moving your financial assets, real estate and personal property from today to future heirs: not just your children, but your grandchildren and their heirs. It’s estate planning done with multiple generations in mind.

In this video, we present a broad overview of available strategies and encourage you to reach out to your TAG advisor to help create a plan specific to your personal situation.

Why Should You Plan Ahead?

First, there are a few reasons why it makes sense to plan ahead. Advance planning allows you to:

  • Protect your assets: Make sure no unintended recipients - such as the tax man or an estranged in-law - get their hands on your assets.
  • Maintain your current standard of living: It allows you to maintain your...

Failing to Plan = Planning to Fail

Business Continuity and Succession Planning is Critical to Protecting Your Business

Financial advisors are often so focused on doing what’s right for their clients in terms of planning for retirement and risk management that they neglect to do the same for themselves. Whether it’s because of the belief that there’s still plenty of time for that “later”, or because there are not enough hours in the day, or because they simply don’t want to face a future without a fulfilling career, a delay in planning can lead to disaster. 

Simply put, without a business continuity plan in place, there is a very real possibility that a sudden unforeseen triggering event could cause the value of your practice to plummet overnight, putting your clients, your family, and yourself at risk.

However, be it illness, disability, death,...

10 Reasons To Sell Your Practice Now – Part II

As we said last time, when it comes to selling your financial advisory practice, timing is crucial. But waiting for the perfect time to sell your practice may prove costly. We are experiencing market volatility not seen in over a decade, and you might be thinking about what’s happening to the value of your largest asset: your business. While the continuing bull market is currently still roaring, reversion to the mean is inevitable and by then it might be too late. 

If you haven’t already done so, now is the time to safeguard the value of your practice so you can remain on course for your own retirement. Part II of our series lists our next 5 reasons to sell your practice now -

10 Reasons To Sell Your Practice Now – Part I

When it comes to selling your financial advisory practice, timing is crucial. But waiting for the perfect time to sell your practice may prove costly. As we experience market volatility not seen in over a decade, you might be thinking about what’s happening to the value of your largest asset: your business. While the continuing bull market is currently still roaring, reversion to the mean is inevitable and by then it might be too late. 

If you haven’t already done so, now is the time to safeguard the value of your practice so you can remain on course for your own retirement. Retire on top and start your succession plan now. It’s an emotional milestone for sure, but one that shouldn’t be put off for too long for a number of reasons. In part 1...

Why is it so Difficult to Find the Right Successor?

We all know we should have a succession plan in place - for now, for next year, or next decade - but why is it so difficult to find the right successor for your practice? In our discussions with numerous advisors over the years, we’ve heard many reasons, among them: 

It’s Hard to Let Go

First let’s acknowledge that, especially for sole practitioners, your practice is your baby and no one is ever good enough to look after your baby except you! But at some point you will need to hand over your book of business to someone else and that “point” is coming sooner rather than later for most financial advisors practicing today, many of whom do not have a family member or associate who is willing to take over. So where can you turn?

The process of transitioning your practice can be complicated and hard. Add to that the...

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