Succession plans that stretch into the distant future may not bring much clarity. In fact, they may work against you, killing your willingness and ability to act. Here is some advice on how to overcome the paralysis of succession anxiety disorder.
One of the most difficult issues in managing an advisory firm is establishing a fair balance in rewarding those who own a firm and those who contribute to its growth. In the short term, equity and the work contribution don’t have to be aligned, but in the long term they probably should be.