Navigating Succession Planning for Financial Advisors with Andrew Mirolli
Tue Feb 03 2026
Summary
In this episode of The Uncertainty E.D.G.E. podcast, Sam Sivarajan interviews Andrew Mirolli, co-founder of BuyAUM, about the unique challenges and solutions in succession planning for smaller advisory practices. Andrew shares insights on the current landscape of financial advisory succession, the importance of understanding market demand, and the innovative vision casting process that BuyAUM employs to help advisors transition their practices smoothly. The conversation also touches on the potential conflicts of interest in the advisory business model and offers actionable advice for advisors preparing for a successful transition.
Takeaways
There is a significant gap in succession planning for smaller advisory practices.Many advisors lack viable succession options, leading to potential business disruption.The vision casting process involves understanding the seller's true value and legacy.BuyAUM focuses on a relationship-first approach to match buyers and sellers.Sellers often regret their decision to sell due to lack of planning for life after selling.The market for smaller practices is growing, but many advisors are unaware of their value.Advisors should normalize their fees to industry standards to improve practice valuation.Building relationships with the next generation of clients is crucial for retention.The discovery process is key to understanding what sellers truly want in a transition.Authentic service and transparency are vital in navigating potential conflicts of interest.Sound bites
"There's a better way to do this."
"70% of sellers regret selling."
"It's all about a perfect match."
Chapters
00:00 Introduction to Succession Planning for Advisors
03:54 The Landscape of Financial Advisory Succession
09:59 Understanding Market Dynamics for Smaller Practices
13:48 The Vision Casting Process Explained
19:43 Navigating Trade-offs in Succession Planning
25:43 The Art of Tailored Introductions
29:02 Navigating Buyer-Seller Dynamics
32:12 Maintaining Balance in Relationships
33:21 Conflict of Interest and Authentic Service
38:54 Preparing for a Successful Transition
43:53 Lessons in Entrepreneurship and Life
Keywords
succession planning, financial advisors, advisory practices, market demand, vision casting, transition planning, exit strategy, buyer-seller relationship, advisory business model, retirement planning
More
Summary In this episode of The Uncertainty E.D.G.E. podcast, Sam Sivarajan interviews Andrew Mirolli, co-founder of BuyAUM, about the unique challenges and solutions in succession planning for smaller advisory practices. Andrew shares insights on the current landscape of financial advisory succession, the importance of understanding market demand, and the innovative vision casting process that BuyAUM employs to help advisors transition their practices smoothly. The conversation also touches on the potential conflicts of interest in the advisory business model and offers actionable advice for advisors preparing for a successful transition. Takeaways There is a significant gap in succession planning for smaller advisory practices.Many advisors lack viable succession options, leading to potential business disruption.The vision casting process involves understanding the seller's true value and legacy.BuyAUM focuses on a relationship-first approach to match buyers and sellers.Sellers often regret their decision to sell due to lack of planning for life after selling.The market for smaller practices is growing, but many advisors are unaware of their value.Advisors should normalize their fees to industry standards to improve practice valuation.Building relationships with the next generation of clients is crucial for retention.The discovery process is key to understanding what sellers truly want in a transition.Authentic service and transparency are vital in navigating potential conflicts of interest.Sound bites "There's a better way to do this." "70% of sellers regret selling." "It's all about a perfect match." Chapters 00:00 Introduction to Succession Planning for Advisors 03:54 The Landscape of Financial Advisory Succession 09:59 Understanding Market Dynamics for Smaller Practices 13:48 The Vision Casting Process Explained 19:43 Navigating Trade-offs in Succession Planning 25:43 The Art of Tailored Introductions 29:02 Navigating Buyer-Seller Dynamics 32:12 Maintaining Balance in Relationships 33:21 Conflict of Interest and Authentic Service 38:54 Preparing for a Successful Transition 43:53 Lessons in Entrepreneurship and Life Keywords succession planning, financial advisors, advisory practices, market demand, vision casting, transition planning, exit strategy, buyer-seller relationship, advisory business model, retirement planning