GENXFINANCIAL’S SUCCESSION PLANNING PLATFORM SOLVES SUCCESSION PLANNING CHALLENGES FOR SOLO ADVISORS

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Since launching in 2021 Sell My Financial Practice has helped over 50 solo advisors create continuity plans, and implemented 15 Succession plans 

NASHVILLE, Tenn., Sept. 21, 2023 /PRNewswire/ — GenXFinancial is making waves in the independent advisor space with its SellMyFinancialPractice platform. Since its launch in 2021, the platform has assisted over 50 solo advisors with continuity plans and has implemented 15 succession plans. The platform especially appeals to solo advisors nearing retirement without a continuity and succession partner. 

In 2021, Malcolm Thomas spearheaded the development of SellMyFinancialPractice.com for co-founders Brian Heapps and Robert Mitchell. The platform offers turnkey continuity and succession solutions for advisors in the independent space. “Our in-house valuation, continuity planning, transition, and deal team services quickly set us apart from traditional matchmaking services,” said Thomas.

“Many solo advisors find themselves in a difficult position. They spend so much time serving their clients that they lack an in-house succession partner and the resources to find an external one,” explained Heapps.

“This platform presents an instant solution to their problem. We provide an immediate continuity partner through our My Remote Financial Advisor team and then work with the advisor to identify a longer-term succession partner within our national network of independent financial firms,” added Thomas.

“Our initial focus with an advisor is to establish a continuity plan in case of death or permanent disability,” said Dave Reichert, Head of Operations and Finance for the Firm. “Knowing that their clients will be taken care of and their family compensated for their business if anything happens to them generally relieves a huge burden for the advisors. From there, we collaborate with the advisor to pinpoint a succession partner and design a transition plan that benefits the clients, seller, and buyer.”

“GenXFinancial has been able to leverage Osaic’s industry leading advisor M&A and continuity planning resources,” said Todd Fulks, SVP Advisor M&A and Succession. In partnership with their broker-dealer, Osaic, this approach has proven successful. In the two and a half years since the platform’s launch, they have assisted over 50 advisors in drafting and implementing continuity plans, identifying successors, and implementing 15 succession plans. 

About The GenXFinancial Family of Companies:

The GenXFinancial Family of Companies is helping create the roadmap for how financial firms are built and advice is delivered to clients. Under the leadership of Brian Heapps, The GenXFinancial Family of Companies includes: MyRemoteFA®, Innovative Financial Group, and SellMyFinancialPractice. Providing comprehensive solutions for advisors and clients. Committed to building the future of financial advising by providing advisors with the tools and resources they need to succeed in this ever-changing industry.

Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth(833) 411-6932

SOURCE GenXFinancial LLC

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