When buyers evaluated Tyson Ray's practice in 2024, they asked one question: "What happens to client trust if you're not there?" That's where branding and succession planning often collide.

Tyson and Kim Cochenour sit down with marketing expert Mike Saunders to explore how brand equity determines your exit value and why your brand drives your succession planning decisions.

You'll discover the positioning mistakes that create founder dependency and how to build a brand that transfers client trust beyond the founder.

• Tyson Ray and Kim Cochenour sit down with marketing expert and author Mike Saunders to discuss the importance of brand equity for advisors and the role it plays in succession planning.
• In 2024, Tyson was in real conversations about selling his practice. When it comes to branding, buyers really asked one question: “What happens to a client’s trust if you’re not there?”
• In other words, the focus of the investors was on evaluating founder dependency.
• Tyson touches upon the fact that realizing how important your brand is will drive some of the decisions on what, who, and how you do a succession.
• Mike brings up the concept of positioning – what you’re known as, what your prospect thinks of you as – and the importance of articulating your solution in your messaging.
• Tyson shares his thoughts on branding and marketing within his firm, and how it has contributed to its growth.
• “The biggest mistake you make as an advisor is not getting advice," says Tyson.
• In his experience working with the financial services industry, Mike has identified seeing marketing as an expense and not doing it consistently are two of the big traps advisors fall into.

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

MikeSaunders360.com

Mike Saunder’s books on Amazon

JPMorgan Chase

Advisors have more options than ever when it comes to succession planning, but those options only work when you start early and bring the right people into the conversation.

Kim Cochenour shares insights from various industry experts to help ensure your exit isn't rushed, reactive, or forced.

You'll hear why modern "rainmakers" focus on serving rather than selling, and why being methodical about your own succession planning makes you more attractive to clients with their own continuity and legacy concerns.

• In this episode, Kim Cochenour shares insights from a few conversations with the goal of helping you understand what needs to be done so that your exit isn't rushed, reactive, or forced.
• Aaron Hassler points out that both buyer and seller want their transaction to be accretive to their businesses.
• That's why educating yourself and having conversations with different people can help you understand what succession plan best fits you and your clients.
• "Advisors have more options than ever when it comes to succession," stresses Kim.
• However, those options only work when you start planning early and bring the right people into the conversation.
• Jackie Wilke explains why the concept of "rainmaker" needs to be redefined in today's financial advisor industry.
• "There's a way to reposition the rainmaker as business development. You're growing, not because you're selling something, because you're serving someone," she says.
• Tyson refers to modern rainmakers as "relationship managers," which are different from what was depicted in Hollywood movies in the '80s and '90s.
• Duncan MacPherson describes the progression the best firms go through.
• Remember: The financial professional who is methodical about their own continuity and succession plan becomes even more attractive to clients who have their own continuity, succession plan, and family investment legacy.
• Kim stresses that the industry is changing: advisors are retiring, and the next generation is approaching the profession very differently.

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

Aaron Hassler

Spruce Rock Capital

Jackie Wilke on LinkedIn

First Trust

Duncan MacPherson

In the era of industry consolidation, many advisors have turned their firms into a "joyful prison," and succession planning is the key to breaking free on your own terms.

Tyson Ray and Kim Cochenour sit down with Charles "Chuck" Failla to explore why taking a private equity check means trading 30 years of hard work for a boss, and what advisors need to consider before signing with a mega RIA.

You'll discover why succession planning can be what you want it to be, unless you wait too long — then it gets dictated to you.

• Tyson Ray and Kim Cochenour explore the topic of succession in the era of consolidation with guest Chuck Failla.
• Failla kicks things off by sharing more about how he got started in the business, how Sovereign Financial Group came to be, and their approach to growth.
• For Failla, the current state of the industry will lead to the creation of a "breakaway" breakaway movement.
• Tyson explains why many advisors refer to their firm as their "joyful prison."
• "I did not work this hard for 30 years to now have a boss, that makes no sense", says Chuck. "However, if you take that private equity check, you now have a boss…"
• Remember: the private equity folks will not sign a contract unless it's absolutely tilted toward them.
• Chuck touches upon how Sovereign Financial helps advisors see things from a different perspective.
• There are things to consider before a founder signs a letter of intent with a "megapolis" RIA – Chuck shares more about that.
• Tyson believes that "The joy of being an entrepreneur is the freedom to delegate and elevate yourself, let other people step into their unique abilities."
• Never forget that "succession can be what you want it to be unless you wait too long… then, it's going to get dictated to you," stresses Tyson.
• Tyson is an advocate for exploring different options as a founder.

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

Chuck Failla

Chuck Failla on LinkedIn

Sovereign Financial Group

Wolf of Wall Street

Raymond James

AdvisorAssist

Chuck Failla's goRIA podcast

Investment News