Next Generation Advisors – Teaming?

Many RIA firms are struggling to find a succession plan and next generation continuity. Many are open to partnership and input from younger advisors. The tone has changed even in the last 6 months, as many business owners face the realization they must prepare or risk driving their business to the ground. Interestingly, I have found that some generational advisors are interested in forging ahead on the solo-practitioner and “lifestyle” practice route. Evidence is pointing to the consumer adapting to a team approach – whether they sought it out or their firm created it to “meet their needs” is up for debate. Teaming has its challenges, but so does a lifestyle practice. What are you choosing and why?