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The Profitable Advisor Podcast

Every month, million dollar fee-based financial advisor Dan Cuprill shares ideas and strategies on how build profit-driven planning practices. For more information, visit

Apr 1, 2024

Are you a financial advisor dreaming of the day you can step back from the daily hustle and still ensure your practice prospers? Succession planning can be a challenge for advisors because few of us can really articulate what it is that we do on a daily basis that would allow someone to run the operation for us, and that makes it hard to step away. 

This is something I’ve had to do recently with my son, Wes, and we’ve identified seven areas that he has to be a master in before the torch can be passed effectively. That’s what we want to share with you in this episode. Let’s go through these seven things you need to do if you’re thinking about life after your business and hopefully shed some light on an area of planning that will be useful.


Here are some of the things we will discuss:

  • Know your numbers
  • What you need to know about each of your clients.
  • Understand staffing and what your business requires.
  • Have a marketing system in place.
  • Your replacement needs to be trained and knowledgeable.
  • Understand the requirements for compliance.
  • Have a strong knowledge of your partner companies.


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