How to Successfully Execute a Succession Plan with Jake Kuebler

Jake Kuebler is a 30-year-old planner at the helm of the very successful, fee-only firm, Bluestem Financial Advisors. He joins the podcast this week to discuss succession plans, the future of the retainer model, and how to seamlessly manage a firm's transition in ownership.

When we last spoke with Jake, he had accepted an offer of 50% ownership in Bluestem Financial Advisors with the intention to buy out his partner after she retired. This year has been a whirlwind of experiences, including transitioning clients, recovering from the loss of a lead advisor, and relocating to new office space.

Succession plans don't often end well with both parties benefiting as expected from the arrangement. Jake's journey shows us that succession plans work well when structured by the existing owner in a way that seeks a win-win for both parties.

Additionally, Jake offers an inside perspective on how the net worth and income fee structure made better sense for his firm. Learn how they re-evaluated the firm's business model, doubled their fees, and only lost one client in the process in this week's episode.

Listen to the Full Interview:

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What You'll Learn from This Episode:

• The pros and cons of operating as a solo firm owner vs a partnership.
• A positive example of how succession plans can work well over time.
• The custodial changes that are involved with the transition of ownership in a partnership.
• The compensation plans Jake is considering to attract new advisors.
• Whether equity partnerships are ideal compensation strategies for new advisors.
• How to explain your fee structure to clients.
• The future of AUM and the compensation structure for planners.

Featured on the Show:

• XYPN Radio VIP Community
• Bluestem Financial Advisors
• Jake Kuebler - Episode 7
• White Paper: A Financial Planner's Retainer by Jake Kuebler
• Monthly Retainer Model by Alan Moore and Micheal Kitces