BOSTON, July 17, 2013 /PRNewswire/ -- As part of a larger survey of financial advisors on succession planning conducted by Mathew Greenwald and Associates, respondents were asked to react to an unnamed four-part succession planning platform, which is the one offered by Signator Investors, Inc.
Advisors had strongly positive reactions to the total program.
- A clear majority (89%) feel the proposed succession planning program is valuable, with nearly one-third saying it is very valuable
- Two out of three advisors say their current broker dealer either does not provide a succession planning program at all (25%) or provides one that is less comprehensive than the one described (38%).
- Three in ten (31%) would consider joining a new broker dealer in order to access the four-part plan they were described.
Components of the Signator equity and succession program include:
Part 1: Helps determine the value of the practice through valuation of the investment-oriented and insurance-oriented parts of the practice as well as the value of long-standing client relationships.
Part 2: Aids in protecting the practice through assistance with setting up continuity planning, long-term succession planning, and assistance with client retention and valuation.
Part 3: Provides assistance with growing the practice through identifying techniques for making the practice more valuable, assistance with protege identification and development, as well as assistance and financial support for an acquisition, if desired.
Part 4: Helps realize the value of the practice through assistance in the sale of the practice to proteges or family members, identification of potential buyers if needed, financial support for the purchase, and help with transition of the practice
Help determining the value of a practice is the most valuable component of the proposed succession planning platform, though each component is widely perceived to be valuable.
- Nine out of ten advisors feel that help determining the value of a practice would be a very (39%) or somewhat valuable (51%) component of the proposed succession planning platform.
- Nearly as many feel each of the other three components of the tested succession planning platform would be valuable, including aiding in protecting the value of the practice (28% very valuable, 56% somewhat valuable), help realizing the value of the practice (33%, 49%), and assistance in growing the practice (30%, 51%).
Conducted by Mathew Greenwald & Associates online, the survey represents responses from more than 500 financial professionals who were working either as a career agent, IFP/IFA, or independent broker dealer rep; planned to retire within 20 years; and had worked in the financial services industry for at least five years, owned at least half of their practice and generated at least $80,000 in gross income in the 12 months prior to the study.
About Signator Investors, Inc.
Signator Investors, Inc. dual registered broker dealer of John Hancock Financial Network, offers financial professionals a wealth of resources and support for business and professional development. To help advisors best meet their clients' needs, Signator provides an open product platform including a comprehensive range of top-quality investment advisory and protection products from leading carriers.
Advisors affiliated with Signator have access to support for financial planning; an integrated technology platform; defined contribution resources; a dedicated practice management team; a marketing portal providing turn-key programs with compliance-ready, customizable templates; an annual practice advancement conference; a top producer program and an industry-leading equity and succession program.
About John Hancock Financial Network and Signator Investors, Inc.
John Hancock Financial Network is a national network of independent firms with approximately 1,600 financial professionals across the U.S. A leader in the financial services industry having the stability and scale to offer an innovative business model, John Hancock Financial Network gives entrepreneurial financial professionals the power to effectively build unique businesses, based on their own vision and market opportunity.
About John Hancock Financial and Manulife Financial
John Hancock Financial is a division of Manulife Financial, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife Financial in Canada and Asia, and primarily as John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were C$555 billion (US$547 billion) as at March 31, 2013. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, mutual funds, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com
Securities and investment advisory services offered through Signator Investors, Inc., member FINRA/SIPC, a registered investment advisor. 197 Clarendon St., Boston, MA 02116. 5145-20130712-149337
SOURCE John Hancock Financial