$12MM AUM | $96,000 GDC in
San Jose, CA
I am seeking an advisor who can enter into a buy-out agreement to succeed me when I am no longer able to work or have passed away. An LPL Advisor is preferred with a CFP license. I would introduce the successor to the clients asap so that they become familiar and comfortable with my successor. I am looking for someone who is fee-based and has similar investment philosophy to mine so the transition would be a smooth one. Someone who is real estate licensed is desirable as many of my clients own rental properties, both in and out of California.
I have a small, loyal group of clients who have been with me for 20+ years. Most have multiple, fee-based accounts exceeding $500k. There is some 401k rollover potential with one client who will retire in a couple of years. The majority of my clientele are in retirement or within 2 years of retirement. Their portfolios are largely composed of ETFs and individual stocks and bonds. I occasionally will use a mutual fund like a floating-rate fund. One client has a sizable annuity which is no longer has a surrender charge. Clients frequently journal their annual RMD into a non-IRA account, thus keeping the assets under management. I have a couple of very small brokerage/commission based accounts which I will probably have the client transfer out.