Maximize and Protect Your Business

To maximize your net worth, protect your business and insure your family's security, Summit has developed a two-step succession process.

The first step is Summit's Continuing Commission Agreement which provides continuous compensation upon retirement, disability or death.

• Summit's Continuing Commission Agreement

  The Continuing Commission Agreement pays a percentage of your commissions for a specified period to an assigned heir or beneficiary upon your retirement, disability or death. This is a less formal solution and may not reflect the true valuation of your practice.

The second step is working with our team to develop a comprehensive valuation and succession program.

• A Strategic Partnership

  For a more complete succession solution, Summit has partnered with FP Transitions, the nation's leading provider of equity management, valuation, and succession planning services for the financial services industry. Summit's specialists will work with you every step of the way through Comprehensive Valuation and Benchmarking of your practice to the full development of a Continuity and Succession Plan.

  • Valuation and Benchmarking

    These two processes work together to quantify the value of your practice and identify opportunities for business growth. Our team will work with you to gather pertinent data and develop a comprehensive valuation of your practice. Once the valuation of your practice has been completed, we will review the data points and benchmark your practice against industry averages to enhance the value of your practice. Valuation and Benchmarking can be done on an annual basis to help you track the growth and value of your practice.

  • Continuity Plan

    A continuity plan addresses the shorter-term needs of an advisor looking to protect the execution of the succession plan. Think of it as your "emergency plan" that protects you and your business in the event of a life altering situation. If you or your succession plan partner dies or becomes disabled during the execution of the succession plan, the continuity plan will protect the value of the business and ensure the proper transition of the practice.

  • Succession Plan

    The final step in transitioning your practice is the Succession Plan. Through our partnership with FP Transitions, you have access to a complete succession planning solution; the Succession Management Program (SMP). Our team will work with you to identify a potential succession partner who is aligned with your goals and ideals.

    The SMP includes:

    • A Comprehensive Valuation Report
    • A Succession Management Program Manual with over 200 pages of options, strategies and valuation information
    • Formal continuity agreements
    • An on-going Continuity Planning Profile backup listing
    • Create the best succession plan for your practice
  • Practice Acquisition Solutions

    Many Summit advisors have focused on purchasing existing books of business to increase the value of their practice and protect your family's future. In addition to providing financial support, Summit will assist you in identifying practices to acquire through our extensive network of advisors.