In this episode of Financial Advisors Want to Know, Liz Hand, CFP®, ACC Hand gives us a first-hand (Sorry, Liz, I couldn’t resist) take on family successions for firms.

Some key takeaways:
1- Anticipate the messy, but have a regular cadence of communication that can be open

2- Be okay with needing to get a little emotional space when going through a business transition that involves other family members and their perspectives

3- Transitions can flare up old hurts, weird emotions, and power struggle changes (There’s a whole HBO series on how much drama can come in)
4- Getting good coaching, structure, and support makes all the difference

What kinds of messes have you seen with family transitions?

Contact Elizabeth here:
https://www.linkedin.com/in/elizabethkhand/
https://www.lizhandcoaching.com/
https://www.kitces.com/blog/elizabeth-hand-pleasant-wealth-commissions-fee-based-planning-g2-advisor/

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