Practice Or Business: Which One Is A Better Fit For You?

In recent conversations with some financial professionals, we were discussing their practices and how, like anyone else, they want to eventually retire. Many of them assume they have a business that they can sell to supplement their retirement capital. I fear some of them will discover that their business is really a practice, and that their firm is analogous to an ATM machine. There’s cash available when revenue is coming in, but when the owners stop working (retirement, disability, death), g...