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Practice Management
hadn’t worked with the transition, how they structured
compensation and set expectations. I went into [the
program] expecting structure, but really the interaction
with other senior advisors was invaluable.”
The Future of the Mentor Program
2013 marked the launch of the Junior/Senior Advisor
Intensive. Drawing from the success of the inaugural
program, Commonwealth has enhanced the training to
produce even more powerful results. There will be a
continued effort to enrich the program as lessons are
learned, new techniques are implemented, and results
are measured each year. One thing that will remain
constant is our objective of providing participants with
a structured mentoring and training program that will
help develop the careers of junior associates.
For more information about the Junior/Senior
Advisor Intensive, please contact Sherri Taylor at
or at x9965.
Maria Considine King is the vice president of
practice management. She is available at x9485 or
at
.
Advisor Resources
In addition to our formal junior advisor training program, to address the gap in continuity planning among both solo
advisors and those in multiple-advisor firms, Commonwealth offers a suite of in-house continuity and succession
consulting services, including:
• Step-by-step guidance on the process
• Geographical advisor searches for potential continuity partners
• Due diligence checklists, online tools to support negotiating the value of a book of business, and templates to
assist with documenting agreements
• Financing support for buyers, with down payments of approximately one-third of an agreed-upon price at
prime +2 percent
• The Buy-Sell Task Force, a cross-departmental Commonwealth team skilled in facilitating practice
transitions post-agreement
In addition, Commonwealth advisors can take advantage of resources such as:
• Classified ads on COMMunity Link to publicize their interest in finding a succession/continuity partner
• Our partnership with The Advisor Center, a website that helps advisors connect with non-Commonwealth
advisors looking to join a new firm
• Networking opportunities at advisor events
• Conference presentations, COMMunity Link content, and
CBR
articles geared toward this key topic
Commonwealth is committed to helping our advisors ensure the continued success of their businesses—even
after they are gone. For assistance in this area, please contact Practice Management at x9330 or
at
.
