Business Succession Advice?

Our latest poll asks you to reflect on whether you think business succession planning advice is an under-delivered commodity to Australian business owners.

This question stems from our report on the growth trajectory path being followed by Perth advice firm, Succession Matters, due to its focus on business succession planning advice (see: Business Succession Planning Growth…).

With Riskinfo having interacted with many advisers and advice businesses over an extended period, there appears to exist a predisposition among many that a business succession planning advice proposition can be too complex and require too great an investment in time, effort and expertise to justify the return this enhanced advice offer may deliver.

…most advice propositions …have the capacity to travel this path

Having successfully developed their advice proposition around business succession planning, however, Succession Matters founder, Adam Smith, may effectively beg to differ. He concedes any adviser/advice practice would require a base level understanding and competency around the fundamentals associated with business succession planning. Having walked the talk, however, Smith strongly believes most advice propositions, whether risk-focussed or holistic advice practices (subject of course to client demographics), have the capacity to travel this path.

What is your experience when it comes to business succession planning services? Do you place yourself or your business in the group which thinks this proposition is ‘a bridge too far’ in terms of embracing its potential? Are you considering or reconsidering placing a larger emphasis on this style of advice offer? And even if your client demographic is outside the scope of this style of advice, do you nonetheless think more advice practices should indeed be running with this offer?

Time to hand over the conversation reins to you and we’ll report back next week…