You'll only exit your practice once… so will you lead it, or will it lead you?

In this interview by Kary Oberbrunner, Tyson Ray pulls back the curtain on why most succession planning conversations miss the mark, sharing the hard-won lessons that led to his book Total Succession and the S.P.A.C.E. framework that keeps clients, team, and your legacy intact.

Discover the critical questions every advisor must ask themselves before the million-dollar offers become a distraction from what you really want, and why treating your clients like family changes everything about how you exit.

• This episode features Tyson Ray being interviewed for Kary Oberbrunner's show.
• Tyson opens up about what led to the writing and publishing of his book Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First.
• One of the key pillars of the book, which is something Tyson feels is missing from the conversation of succession industry-wide, is how to sell your firm while keeping your customers and team.
• Tyson explains why, as he puts it, "There's no perfect succession."
• Remember: figure out what you want before you're trying to turn away millions of dollars that can become a distraction from what you really want.
• Something many advisors seem to forget is that their clients become like family.
• Tyson touches upon the reason behind the world "Total" used in his books and podcast titles, as well as the S.P.A.C.E. acronym (See. Prepare. Act. Commit. Exit.).
• Important reminders: 1) You will exit your practice – the question is whether you will lead it or it will lead you; 2) You only exit your practice once, so you should do it on your terms.
• Tyson lists a series of key questions anyone focused on succession planning should ask themselves.
• The conversation wraps up with a much-needed succession planning reality check.

Mentioned in This Episode:

TotalSuccession.com

TotalSuccession.com/podcast

FORM Wealth Advisors

Tyson Ray

Kim Cochenour

Tyson's book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First

The Total Relationship: Four Steps to Breaking the Mold, Transforming the Financial Advisor-Client Partnership, and Building True Wealth by Tyson Ray

Kary Oberbrunner's podcasts