But what if something happens to you?
I occasionally get the question: "but what if something happens to you?"
Meaning, if I die or become incapacitated, where will my clients turn for help?
This question is often planted by brokers to imply that because they are employed by a big firm, their clients have a built-in succession plan (brokerage firms stand ready with a replacement, but a "court-appointed" broker typically isn't the type that is sought after).
So, here's the answer: If I die or become incapacitated, you'll have to find a new financial planner. Just like if your doctor dies, you'll have to find a new doctor. Or, if your attorney dies, you'll have to find a new attorney.
A better question to ask yourself is: "if my broker bails to another firm, do I want to be in the middle of a signing bonus quarrel while each party's attorneys squabble over who I belong to?"
If you are my client, you don't belong to me. You've trusted me with the privilege of working hard on your behalf. You are free to leave any time and I hope that the quality of my work acknowledges that I don't take you for granted.
Alas, if you must have a backup plan, here it is:
"Now it is required that those who have been given a trust must prove faithful."
-- 1 Corinthians 4:2
For more on the "big v. solo" issue, read these related posts:
Small is the new big. Solo is the new small and The power of one.
Small is the new big. Solo is the new small and The power of one.
