Succession planning works like retirement planning: the earlier you start, the more options you have.Kim Cochenour and Tyson Ray explore why advisors delay planning, how to reframe it as business strategy, and why you should ask, "What am I exiting toward?" instead of, "What am I exiting from?"You’ll hear insights from guest experts Andrea Schlapia, Ted Motheral, and Dean Smith.Kim Cochenour kicks the episode off with an important premise: succession planning works the same way retirement planning does – the earlier you start, the more options you’re going to have.One of the biggest reasons advisors delay succession planning is because the whole idea of “the exit” feels overwhelming.Andrea Schlapia invites you to frame exit as merely a good business strategy, rather than an event that just happens.In her approach, Andrea wants advisors to move from an individual-led practice to a leadership team-run business.Tyson Ray highlights the important question of asking yourself, “What am I exiting toward?” instead of, “What am I exiting from?”Remember: exiting doesn’t necessarily mean severing yourself from your career. It can be as simple as exiting some of the things you don’t like to do and that are just sucking energy out, and prevents you from being your best self.Ted Motheral touches upon the role preparation plays when it comes to successful successions.The irony when it comes to succession planning, is that advisors are experts in helping their clients prepare and get their affairs in order but struggle to do that for themselves.Dean Smith talks about the fact that, over the next 10 years, about 40% of the industry assets are going to be transitioning hands or retiring.The advisors who are succeeding through and coming to the succession wave will be the ones who start building their transition long before they actually need it.Mentioned in This Episode:TotalSuccession.comTotalSuccession.com/podcastFORM Wealth AdvisorsTyson RayKim CochenourTyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests FirstAndrea SchlapiaIronstoneTed Motheral on LinkedInDean Smith on LinkedInWealth Enhancement