A huge number of advisors are approaching retirement, but the next generation isn't entering the profession fast enough to replace them. If that wasn’t enough, many founders don't have succession planning in place. Tyson Ray and Kim Cochenour address the “succession planning crunch” with insights from Jackie Wilke, Duncan MacPherson, and Scott Danner.You'll discover why succession planning is about client continuity, not you, and why attrition isn't a strategy.Kim Cochenour kicks things off by highlighting a growing tension in the advisor industry: A huge number of advisors are approaching retirement, but the next generation is not entering the profession fast enough to replace them.This episode of The Total Succession Show features guest insights on what happens when advisors retire faster than they’re replaced – and what firms can do now to prepare for that shift.According to JD Power, an estimated 37 to 46% of advisors plan to retire in the next 10 years.First Trust’s Jackie Wilke highlights that many of them DON’T have a succession plan in place.At the end of the day, succession planning is about the client, says Jackie.The point of having a succession plan is continuity for your clients and continuity for the people that matter most to them.Tyson Ray touches upon the fact that advisors keep seeking out Gen 2 to be the rainmaker without realizing that, at some point, the team needs caretakers for their clients.Remember: what has gotten you here won’t necessarily take you there – the rainmaker model of the past requires a different approach now.Duncan MacPherson discusses how, the more technology creeps into our lives, the more the human touch matters. As many advisors go all in just with technology, the human touch becomes an unmet need.Scott Danner talks about the role that finding the right partners, growing and building together, leads to actually living a legacy… not just leaving one.He also illustrates how many advisors see attrition as their actual succession plan.In Scott’s business, the #1 group reaching out because they’re trying to live their legacy are 45 to 60-year-old advisors – they’ve been in business 20+ years and are tired of doing things the same way.Scott adds the “doing trap” into the conversation.Tyson breaks down the S.P.A.C.E. framework, while Scott shares the steps advisors should follow to prepare themselves for succession.Kim stresses that the advisors who are succeeding through this succession crunch will be the ones building businesses, developing their people, and creating continuity for their clients long before their day comes. 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 FirstJackie Wilke on LinkedInFirst TrustJD PowerDuncan MacPhersonScott W. DannerSteward PartnersFreedom Street PartnersGenius NetworkDan SullivanBenjamin HardyWho Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork by Dan Sullivan and Benjamin Hardy