Keith Marshall
AMAFA has launched the AMAFA Succession Reality Check, a simple business continuity and succession planning self-assessment tool designed to help financial advisers review the resilience and long-term sustainability of their own advice businesses.
While advisers regularly encourage clients to plan for unexpected events and future transitions, it is just as important they apply the same principle to their own practices, according to AMAFA CEO Keith Marshall.
“Many advisers spend a lot of time talking to clients about business continuity, risk management and succession planning,” Mr Marshall says. “But it’s important they also practise what they preach and take a good look at how well their own businesses are prepared for disruption, illness, retirement or an unplanned exit.”
The AMAFA Succession Reality Check provides a simple framework for reviewing current arrangements, identifying gaps and considering next steps across key areas of business continuity and succession planning. AMAFA has made the tool freely available to all advisers, and no personal identifying details are required.
“The Succession Reality Check tool is designed as a starting point and is intended to help advisers look at the operational resilience of their practices and prompt thinking around how they might support continuity of service for clients during periods of change,” Mr Marshall says.
“It offers advisers a quick, no-nonsense way to assess where they stand today and highlight areas they may need to address in order to support their clients, their staff and the value of their own business.”