National Planning Holdings has partnered with FP Transitions to deliver practice management and succession planning support to its independent advisors.

FP Transitions’ equity management system will be integrated into the support platforms of the broker-dealers in the NPH network: INVEST Financial, National Planning Corporation, Investment Centers of America and SII Investments. The system provides planning tools for advisors who are ready to retire, as well as those whose retirement is further on the horizon.

The platform also provides continuity plans to assist advisors in ensuring a prompt transition of their business in the event of their death or disability. Advisors also have access to acquisition tools, contract support and discounts on private consulting.

“Our advisors spend their careers helping investors manage their wealth and prepare for retirement, but in many cases, they may lack the time and resources to plan for their own departure from the business,” said Jim Livingston, president and chief executive of NPH.   

According a November survey by US Trust, many high net worth business owners are so "caught up" in their efforts to create jobs and opportunities for others that they are at risk of jeopardizing their own employees as well as their families' financial security. Meanwhile, earlier findings from Aite Group showed that almost 70 per cent of advisory practice owners believe a successful succession strategy will take five years or less to implement, but this time-frame should span 10 years in order to maximize practice value.

With one in 10 financial advisors being over 60 years old, it is “no secret” that succession planning is an important aspect of the wealth management industry, James Poer, president of NFP Advisor Services Group, said at the time. NFP Advisor Services Group commissioned the survey.

National Planning Holdings is a broker-dealer holding company and an affiliate of Lansing, MI-based Jackson National Life Insurance Company.