How important is an advisory firm's succession plan?
Important enough for the Securities and Exchange Commission to consider the existence of one a fiduciary obligation.
Last year, SEC Chair Mary Jo White raised the issue publicly when she said she was instructing her staff to craft a rule that may require advisors have at least a basic succession plan in place.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
