Eric D. Weinstock Quoted in Financial Planning Magazine, “Alarmingly Few Wealth Firms Have More Than Handshake Succession Deals”
Eric D. Weinstock, partner in the Trusts & Estates practice at Pashman Stein Walder Hayden P.C., was recently quoted in a Financial Planning Magazine article titled, “Alarmingly Few Wealth Firms Have More Than Handshake Succession Deals”. The article discusses how few financial advisors have formal succession plans, citing recent research that less than a third of firms have formal, documented succession plans in place.
Much like the old adage about the successful shoemaker who has holes in the soles of his own shoes, many advisors have devoted so much time serving others well that they fail to attend to their own business.
"Although financial advisors are adept at balancing numerous considerations, goals, risks and constraints, it often is more difficult to deal with their own personal business affairs," said Eric D. Weinstock.
To read the full article in Financial Planning Magazine, click here.
