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https://blog.commonwealth.com/how-to-solve-the-business-continuity-problem

How to Solve the Business Continuity Problem

2020-06-08 15:26:21, Kenton Shirk, source

Content Categorization
/Business & Industrial
/Finance

Word Count:
860

Words/Sentence:
18

Reading Time:
5.73 min

Reading Quality:
Intermediate

Readability:
11th or 12th

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Your staff could be left in limbo while a buyer is identified and an agreement is struck.

The bottom line is that by planning in advance to answer "what if" questions, you can avoid hardship for everyone who depends on your business.

What are your primary concerns when considering a continuity partner?

Meanwhile, advisory fees could cease if an advisor isn't immediately named to your accounts, meaning your heirs wouldn't receive compensation until a buyer is found.

For potential buyers, this situation is also difficult.

Will the advisor be up to the task of serving your clients?

What is the advisor's investment philosophy?

What does the advisor's service model look like?

Does the advisor have a strong service infrastructure in place?

The process of finding a suitable buyer can be especially challenging for family members who are grieving and struggling to understand the intricacies of selling a complex business.

To protect your practice in the event of your disability or death, creating a business continuity plan is critical.

Keywords

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