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Total Succession

Total Succession

Written by: Tyson Ray and Kim Cochenour
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 So you've built a business helping others plan their future. But what's the plan for yours? Your future deserves the same attention you give your clients every day. It's time to protect what you've built and prepare for what's next. Welcome to the Total Succession Show, your resource for learning how to exit confidently, be fully compensated, and keep your clients' interests first. Hosted by veteran financial advisor Tyson Ray and co-host Kim Cochenour, each episode will help you navigate the emotional and strategic challenges of succession planning through real-life stories, insights from industry experts, and Tyson's SPACE framework: See, Prepare, Act, Commit, Exit. Tune in each week and head to totalsuccession.com for free tools to help you start preparing for what's next.2025 Careers Economics Personal Finance Personal Success
Episodes
  • Why Succession Planning Fails Financial Advisors… And How to Fix It with Jackie Wilke

    Why Succession Planning Fails Financial Advisors… And How to Fix It with Jackie Wilke
    Jan 13 2026
    Succession planning succeeds or fails in just a few critical places, and most financial advisors don't realize where they're vulnerable. Tyson Ray and Kim Cochenour are joined by Jackie Wilke to break down the three make-or-break factors in succession planning, from redefining rainmaking to building leaders who can truly care for clients. You'll hear why succession is your final act of client service, how to future-proof your firm, and what it really takes to prepare the next generation of advisors to step up. Tyson Ray and Kim Cochenour are joined by Jackie Wilke to dig into the three biggest areas where succession planning either takes off or falls apart.Jackie kicks things off by sharing her industry insights regarding succession and its relationship to team builders and building an advisor transition team.She notes that estimates forecast 37% to 46% of advisors planning to retire over the next 10 years – yet, most of them don't have a succession plan in place.Despite what you may have thought, at the end of the day, succession planning is about the client.Jackie is a fan of a quote by one of her clients, who referred to succession planning as "their last act of client service."Tyson sees the advisory industry as focused on wanting Gen 2 to be the rainmaker, not realizing that, at some point, the team needs caretakers for their clients.Jackie touches upon a mindset shift she believes could help advisors: redefining what rainmaking means. The modern rainmaker should be something that achieves business development-propelled growth, not because they're selling something, but because they're serving someone."Human capital is such an advantage in our industry", says Jackie while sharing several considerations leaders should keep into account to shape the future leadership bench of their firm.One of the biggest mistakes Tyson sees advisors make with their successor is to expect them to follow exactly in your footsteps to get to where you got to.However, if you think about it, what you did 5, 10, 20 years ago to get here now probably needs a different "who", "how", and "why"..!Jackie, Tyson, and Kim discuss ways to find talent and the right approach to firm growth and to develop a growth mindset.Fun fact: only 19% of kids stay with their parents' advisor.Jackie touches upon what she thinks makes a business more attractive to a potential buyer or to a successor who wants to take over.Taking a minute to evaluate where your firm is at is the first step Jackie suggests taking to future-proof the next generation of advisors.Tyson explains why, over the last few years, he purposefully capped his income – and the impact that move has had on his firm. 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 Jackie Wilke on LinkedIn First Trust First Trust blog and resources J.D. Powers The American College of Financial Services LinkedIn The Wolf of Wall Street
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    46 mins
  • Succession Planning, Legacy, and Letting Go: The Story Behind the Total Succession Book

    Succession Planning, Legacy, and Letting Go: The Story Behind the Total Succession Book
    Jan 6 2026

    Tyson Ray's new book, Total Succession, actually didn't start as a book idea… but as a responsibility.

    Kim Cochenour turns the mic on her co-host Tyson, to explore why succession is about far more than just retirement, and how identity, control, and legacy shape the decisions advisors struggle to make.

    Tune in to hear the personal moments, hard-earned lessons, and the S.P.A.C.E. framework behind Total Succession – and why none of us get to the next chapter alone.

    • This episode sees Kim Cochenour interview co-host Tyson Ray to discuss something that has been years in the making, and that is finally here: the Total Succession book!
    • Tyson's motivation for writing the book comes from his passion for being a teacher-student who likes to learn things and share them with others.
    • When Tyson became a father, he started to work on his estate planning, as well as on his clients and their roles beyond him.
    • "If you have people that are entrusting you with their life savings, you might want to have a backup plan because none of us are guaranteed to be here tomorrow," Tyson points out.
    • Kim stresses that succession isn't really about retirement or the reason why advisors struggle to plan – it's wrapped around their identity, control, legacy, and the things they've sacrificed along the way.
    • Tyson and Kim go through the S.P.A.C.E. acronym – Seeing, Preparing, Act, Commit, Exit – and the role it plays within succession planning.
    • As Kim emphasizes, "you didn't get to where you are on your own, so you're not going to get to that next stage on your own."

    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 (available for pre-order)
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    22 mins
  • Should You Sell Your Advisory Practice? How to Handle Unsolicited Offers

    Should You Sell Your Advisory Practice? How to Handle Unsolicited Offers
    Dec 30 2025

    When a buyer comes calling, it can feel flattering, urgent, and surprisingly emotional, but an offer is NOT a succession plan.

    Tyson Ray and Kim Cochenour break down how advisors should think about succession when acquisition conversations start, from asking the right questions to understanding what you may be giving up beyond the numbers.

    You'll learn how to evaluate opportunities on your terms, protect your clients and culture, and avoid regrets in a world where there is no such thing as a perfect exit.

    • This episode sees hosts Tyson Ray and Kim Cochenour address the scenario in which someone wants to buy your practice.
    • Tyson explains that being approached by someone who is thinking about acquiring your firm shares some similarities to what happens in the dating world.
    • He also points out that one of the reasons why Total Succession exists is to help you prepare for a world where that keeps happening – so that you can choose the response that takes you down the path you want to be on.
    • Kim Cochenour points out that most advisors don't realize that the offer is not the plan.
    • Tyson goes into the questions advisors should ask themselves when it comes to potentially selling their firm.
    • "Over the next 90 days, am I going to grow or am I going to sell?" is a key question you should constantly ask yourself.
    • Tyson discusses the fact that, sometimes, it's not about money, but it's about the environment of how you want to end – is it on your terms or on someone else's?
    • One of the things that could potentially be part of selling your firm is saying goodbye to some of your team members, some of the people who have gotten you where you are today.
    • What impact will that have on them, and what about the company culture? How will that be affected by it?
    • Tyson is a firm believer that the way to exit the practice without regretting it is to make sure that your clients are better off.
    • An important message from Tyson: "If you're listening to this and have some time, steward well the resources, take money out of the business and reinvest that to build assets such that the need to get so much out of your business exit is lessened."
    • Whenever you get a phone call from a potential buyer of your firm, Tyson recommends being focused on the data, questions and answers – and he stresses the importance of bringing in other advocates to help you see your blind spots.
    • Tyson and Kim go through the S.P.A.C.E. approach to succession planning.
    • Remember: "There's no perfect exit."

    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 (available for pre-order)

    Previous episode - Mel's Story: The Succession Disaster I Bought and What It Taught Me
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    28 mins
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