SARASOTA, Fla., Jan. 24, 2014 /PRNewswire/ -- Global Financial Private Capital ("Global Financial"), a Sarasota-based independently owned SEC Registered Investment Advisor managing over $3 billion in assets, announced today a new succession and business continuity program for partner advisors. It was developed in conjunction with Advisor Growth Strategies, a practice management consulting firm, and MarketCounsel, a business and regulatory compliance consultancy.
The program offers two unique programs from which advisors can choose the appropriate business continuity plan to protect the value of their advisory business. The first ("Advisor to Advisor Continuity") helps advisors locate either an internal or external successor from the Global Financial network, with whom they subsequently create a continuity agreement through turnkey support provided by Global Financial's partner firms. The second, called "Legacy Lock," is an exclusive, new-to-market program within the financial services industry that offers advisors a compelling backstop program to protect their business, instead of having to find a successor and create an agreement themselves.
"Our goal is to help advisors make informed decisions that will help protect their clients, employees, and families," said Geoffrey A. Frazier, President and Relationship Director of Global Financial. "It is estimated that more than two-thirds of advisors have not established a true business continuity plan, whether it's because they don't have the time needed to develop a comprehensive program, have trouble finding the right successor, or cannot meet the cost of insurance or creating an agreement."
"We are very excited about this program. Global Financial is taking a leadership position by making a material investment in their advisors," added John Furey, Principal and Founder of Advisor Growth Strategies. "The Legacy Lock option is an innovative feature that we believe will have a serious and positive impact on the advisory space."
The program also includes custom services for the sale and transition of advisors' businesses. Global Financial will help select a "like-minded" advisor in their network who's interested in purchasing an advisor's business, at which point they--along with Advisor Growth Strategies and MarketCounsel--will provide turnkey support in developing a mutually accepted transaction.
"These offerings help ensure that advisors receive fair market value for their business," noted Frazier. "Most importantly, they will allow advisors to sleep soundly knowing their clients will continue to receive the high-touch quality of service they have come to expect from Global Financial."
About Global Financial Private Capital, LLC
Global Financial Private Capital, LLC is an independently owned, SEC Registered Investment Advisor (RIA) whose goal is to restore investor trust and confidence in the financial system through the creation of client relationships based on full fiduciary disclosure and transparency of action. As an independent organization, it has the freedom to offer unbiased advice without the potential for conflicts of interest often present within larger broker dealers. Global Financial comprises a number of special areas of expertise, all of which work together to provide comprehensive wealth management solutions. Visit www.gf-pc.com for more information.
About Advisor Growth Strategies, LLC
Advisor Growth Strategies, LLC (AGS) is a leading consulting firm serving the wealth management industry. AGS provides customized business management solutions for independent firms seeking to aggressively grow their business and for financial advisors in transition. Our services include strategic planning, recruiting and acquisition programming; compensation design; and succession planning. We serve established independent advisors, large breakaway advisor teams and institutional-level corporations. Visit www.advisorgrowthllc.com for more information.
MarketCounsel is the leading business and regulatory consultancy to some of the country's preeminent independent investment advisers throughout their lifecycle. From its roots in 2000, MarketCounsel has been steadfast in its mission to deliver solutions to the challenges faced by entrepreneurs in this fast growing yet highly-regulated industry and has emerged as one of its most effective advocates. From the initial launch of an investment adviser to its outsourced compliance platform to its business growth and succession strategies, MarketCounsel consistently delivers extraordinary service and trusted counsel by leveraging advanced technology and sound business processes. Its affiliated law firm, the Hamburger Law Firm, adds sound legal counsel in such related areas as corporate, transactional, succession, mergers, acquisitions and dispute-related matters. Visit www.marketcounsel.com and www.hamburgerlaw.com for more information.
SOURCE Global Financial Private Capital, LLC