Advisor Succession Planning Director

About Wealth Enhancement Group

Wealth Enhancement is an independent wealth management firm with an endless passion for enriching the lives of our clients. We continually seek to perfect our craft of personalized financial planning with our team-based Roundtable and UniFi processes that go far beyond the standard approach. We proudly provide unique financial plans and investment management services to over 61,000 households from our over 100 offices - and growing - nationwide.

Since 1997, Wealth Enhancement has tirelessly raised the standard of wealth management with specialized knowledge and more attentive service that helps every client craft their future. For more information, please visit www.wealthenhancement.com.

We have an exciting opportunity for an Advisor Succession Planning Director. This role is responsible for developing and implementing comprehensive succession plans for our firm's 500 advisors. Your primary goal will be to ensure a smooth transition of client relationships and business operations in the event of retirements, departures, or other changes within our advisor network. This role requires a combination of strategic thinking, relationship management, and analytical skills, along with a deep understanding of the financial services industry.

The salary target for this role is $140,000 - $190,000 depending on experience. This role is also eligible for an annual corporate bonus and equity.

We select our initial compensation target using national compensation survey data. When we make an offer, we then factor in things like tenure, performance, and geographic location to come up with the most accurate numbers. We encourage you to apply and provide us with your compensation expectations when you do. We’re big on open conversations, so, let’s have one. 

Primary Job Functions

Succession Strategy Development and Implementation

• Develop a robust succession planning strategy to safeguard the continuity and growth of our RIA firm's advisor network.

• Coordinate and lead the implementation of succession plans, including facilitating knowledge transfer, client transition, and operational continuity.

• Stay up-to-date with industry trends, regulatory changes, and best practices in succession planning, leveraging this knowledge to continuously improve our processes.

• Monitor and track the effectiveness of succession plans, identifying areas for improvement and making recommendations for adjustments as needed.

Assess Practice Succession Needs and Timing/Execution.

• Collaborate closely with Lead Advisors, Advisor Services, Human Resources, and key stakeholders to identify and assess succession needs and potential risks.

• Develop and maintain strong relationships with advisors, clients, and other relevant parties to ensure smooth transitions and minimize disruptions.

• Provide guidance and support to advisors and their teams throughout the succession planning process, addressing any concerns or challenges that arise.

Assess Next Generation Advisors Skills and Development Needs

• Assess the skills, experience, and performance of potential successors, providing development opportunities to enhance their readiness for future leadership positions.

• Work with next generation advisor on their personal development plans

• Collaborate with internal stakeholders to integrate succession planning into broader talent management initiatives, fostering a culture of growth and development within the organization.

Provide input into the potential Succession plan for Advisor offices / External Search

• Identify if there is no next generation advisor and potential timing for external recruitment / search to find one.

• Understand and translate organizational, business, and talent needs into a succession strategy aligned with the talent and leadership development agenda.

Education/Qualifications

• Bachelor's degree in business, finance, or a related field. Advanced degree or relevant certifications (e.g., CFP, CFA) is a plus.

• 10+ years proven experience in succession planning, talent management, or a similar role within the financial services industry.

• Strong knowledge of the RIA industry, including regulatory requirements and market trends.

• Excellent analytical and problem-solving skills, with the ability to think strategically and anticipate future needs.

• Exceptional communication and interpersonal skills, capable of building and maintaining rel