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(Adhesion) Many independent financial advisors feel the term “Succession Planning” is synonymous with selling a practice, or retirement. And while it is a component of a practice sale, succession planning is an involved process which will allow the advisor to determine and track the value of the practice, protect it, and then - over a carefully developed timeframe - implement a plan for transition and practice transfer. Unfortunately, many advisors fail to complete the transition of their practice from one generation to the next.