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Exit strategizing, also known as a Succession Plan or even a Succession Strategy, is one of the most important aspects of business--it's also one of the most overlooked. The simple difference between a succession plan and a succession strategy is the length of time before trying to implement it. A succession plan tends to be short-term or more immediately executed, whereas a succession strategy is often worked on over many years. Most business owners only consider an exit strategy or succession plan when they're ready to retire or sell their businesses. However, there are many reasons you might need a succession plan or succession strategy, even if you plan to continue running your business for years. Here's your guide to business exit strategy and what you need to know. Afterward, if you have any questions about planning your strategy, contact our team at Bridgemark Strategies for a confidential no-obligation consultation. Start [...]

When the time comes to retire, it's crucial to have a plan for finding a successor. Your business is your life's work, and you don't want to hand it over to just anyone. You need someone who can carry your legacy and take your business to the next level. Read on for eight tips on how to find a successor for your company. Follow these pointers, and you'll be able to rest easy knowing that your business is in good hands. What to Look for in a Successor While it may seem like finding a successor is all about luck, there are certain qualities you should look for. After all, this person will take over your life's work, so you want to ensure they're up for the task. The ideal successor will have: The skills and knowledge necessary to run your business A real interest in what you do and how [...]

Switching broker-dealers can be a little intimidating. But if you know what questions to ask, you can gain more confidence as you navigate the process. The goal is to make a change that provides you greater stability, benefits, and peace of mind. To find the right broker-dealer, consider asking these five important questions. […]

Financial advisors have a wide breadth of choices when it comes to where they work. Some choose to work for large companies that may house up to 500 other advisors in one location, while others choose to go the boutique route. Boutique financial advisory companies may have a dozen or so employees. […]

When properly implemented, client segmentation has the potential to significantly improve the growth rate and bottom line of an RIA.  Client segmentation even has the potential to bolster RIA efficiency and client retention.  The challenge lies in determining and implementing client segmentation the right way.  Let’s delve into the process and benefits of client segmentation for financial advisors. […]

Finding the optimal consultant for the sale or movement of your business should not feel like mission impossible.  Finding the right advisor takes research and time. We’ll go in-depth about what characteristics your advisor should have, how to choose the right consulting firm, and more, so you’re better prepared when selling or moving your business.  But don’t feel like you have to do this alone.  The consultants at Bridgemark Strategies are here to help you every step of the way. […]