It’s Not Just About the Business

When advisors think about succession planning, they picture spreadsheets: valuations, legal documents, buy-sell agreements. All critical pieces. But Jimmy Lee, CEO of The Wealth Consulting Group, says something often gets overlooked.

Succession planning isn’t only a financial exercise—it’s human planning. Behind every firm are families, employees, and clients who depend on continuity. Miss that, and the numbers don’t matter.

Why Many Advisors Avoid It

Here’s the uncomfortable truth: succession is emotional.

It forces advisors to confront their own retirement, mortality, and legacy. That’s why so many put it off—telling themselves they’ll deal with it “someday.”

But delay doesn’t just put the business at risk. It puts at risk the very relationships that took decades to build. Clients notice when a plan doesn’t exist. And they worry.

A Seamless Transition

The best succession plans aren’t just about ownership transfer—they’re about trust transfer.

Clients shouldn’t feel like they’re being passed along to a stranger. They should feel cared for. They should feel like the transition was designed for them, not just for the firm.

That means introducing successors early, building familiarity, and ensuring values align. Done right, succession doesn’t look like an ending. It feels like continuity.

Why It Matters More Than Ever

The average advisor is nearing retirement age. Without intentional planning, tens of thousands of client relationships could be disrupted over the next decade.

Firms that treat succession as human planning—not just legal paperwork—will stand out. Because what clients want most is reassurance that their advisor’s care doesn’t end when their career does.

These insights are inspired by the latest episode of Next Mile featuring Jimmy Lee, CEO of The Wealth Consulting Group. Hear how he’s scaling holistic wealth management and why the personal CFO model is the future. Listen to the full episode here and explore more articles in this series.