Does the thought of grooming someone to take over your firm appeal to you? There are certainly advantages to naming an internal successor, including continuity of service and long-term stability for clients. Passing your business to someone from your own team means he or she will already have relationships with your clients and likely share the same philosophy as you.
Although finding a qualified junior advisor to whom you can pass on your knowledge can be worth the effort, it can also be a difficult to find the right candidate. Let’s consider some challenges and potential solutions to help you in your search.