This is What it Feels Like on the “Other Side”

Ever wonder what it feels like on the “other side” of a successful succession? Not too long ago, I did, too…

The 4-year anniversary of the sale of my money management business is rapidly approaching, and it feels like the perfect opportunity to finally address the questions I’m frequently asked about my journey.

The time away has given me a fresher perspective on how I got to where I am today, and the memories from 30 years spent in the financial services world—, including 20 as a managing partner in my former firm —haven’t quite faded altogether.

The day that “someday” arrived

Being one of three shareholders in a “boutique” firm was like riding a roller coaster—at times completely exhilarating, and at others, terrifying. But through it all, we remained committed to making decisions that would benefit us when it came time for succession. All the usual stuff that’s a part of a sale was relatively (and fortunately) uneventful—due diligence review, operational preparation, and transition and deal structure.

What I hadn’t counted on, though, was emotional upheaval.

In hindsight, this isn’t surprising. When a huge change that has been planned for over the course of many years transitions from being a “someday” concept to an imminent opportunity, it takes a major emotional adjustment.

    • Why was this so hard? 
    • Wasn’t this what we had all agreed we wanted?  
  • What if our clients became upset? 

And, of course, one of the scariest questions of all: What if I didn’t like the outcome?  

It was nearly paralyzing. But luckily, I had an “ah-ha!”  And it pulled me through to the other side of a successful sale.

Reporting live and thriving

Now, nearly 4 years later, I feel so grateful that I faced down my fears. Because the outcome was everything I could have hoped for.

It feels pretty amazing to report from the other side of business ownership in the investment world to share what it’s like. Every day, I feel an incredible blend of emotions—gratitude, energy, purpose, and, most importantly, happiness.

And now, I help other successful RIA owners make their “someday” a reality—but without the fear I felt at the last minute.

Are you entertaining a “someday sale” of your business? I would love to support your journey to the other side.

Let’s connect!

Click here to download our complimentary report- “5 Questions Business Owners Never Ask and Should, to Create a Succession Plan that Works ”