Step-By-Step Succession Planning Process and Procedure

When:  Sep 17, 2020 from 12:00 PM to 1:00 PM (ET)
The September 2020 Financial Counseling call with AFCPE and FPA will be held on Thursday, September 17th at 12 pm ET.

Guest speaker Emily Chiang will be presenting, "Step-By-Step Succession Planning Process and Procedure."

Many small business owners, especially sole proprietors are reluctant to explore the issue of succession planning possibly due to the difficulty and complicated emotions in facing a major transition.  In this session, attendees will learn how having a nuts and bolts understanding of the process is an effective first step for financial counselors to empower their clients to successfully transition their business.

Learning Outcomes:
• Identify process and the techniques used to sell a sole proprietor small business.
• Apply methods and approaches of succession planning for these small business owners to sell their businesses.
• How to find a well-matched buyer.
• Describe major business differences that could derail the transition process.

Emily had 25 years of career in financial planning and investment management and 35 years overall in the financial services industry. After a very gratifying career, Emily searched two and a half years for a well-matched buyer and sold her practice by herself in 2013.  She then worked another year at the buyer's office to transfer her clients to their new advisors.  After she completed the transition, she spent the following year and wrote "Selling Your Financial Advisory Practice, A Step-By-Step Workbook."   In early 2015, she was invited to serve as a co-host with Knowledge Circle Business Success webinar program emphasizing succession planning for the national Financial Planning Association (FPA).  In 2016, Emily founded EMC Succession Planning, LLC to share her knowledge and wisdom with advisers who are dealing with succession planning issues. She is available to give speeches and provide consulting services on succession planning for financial advisers.

In 2016, Emily created her succession planning course based on her workbook and gave presentations to the Foundation for Financial Planning and NAPFA Washington, DC study group.  In January, 2017, Emily received “2017 Planner of the Year” award from FPA National Capital Area (FPA NCA) to recognize her work on succession planning for the national FPA, FPA NCA and the Foundation for Financial Planning.  Since June, 2017 Emily became a member of Journal of Financial Planning Editorial Advisory Board. In 2018, Emily presented her succession planning course based at FPA MA Chapter’s annual conference.  In 2019, Emily presented her succession planning course at FPA New Jersey Chapter’s Spring Conference as a Key Note Speaker, then presented her course at FPA Central VA Chapter and FPA Philadelphia Tri-State Area Chapter.  In October, 2019, Emily was selected to present her succession planning course at 2019 FPA Annual Conference in Minneapolis.


Online Instructions: