Ep 76: The Key to Successful Succession Planning

Episode 76: The Key to Successful Succession Planning

Guest: Brooklyn H. Brock

Overview

Welcome to the Financial Advisors Want to Know Podcast! I’m Catherine Tindall, CPA with Dominion Enterprise Services, where we help financial advisors navigate income tax planning and compliance.

Today’s guest is Brooklyn H. Brock, a third-generation financial advisor and the founder of Ellevate Advisors, a fee-only RIA focused on financial and exit planning exclusively for financial professionals. Brooklyn shares her insights on why advisors often delay their own planning and how starting early with a succession strategy leads to smoother transitions and long-term security.

Key Takeaways

✅ Start Early for Better Results – Succession planning is most effective when started well in advance, giving you time to make confident, thoughtful decisions.

✅ Internal vs. External Succession – Decide early whether your transition will be internal or external—each path requires different planning, structure, and timelines.

✅ Don’t Overlook the Emotions – Internal transitions often involve sensitive relationships. Clear communication and expectations are critical to prevent misunderstandings.

✅ Get the Valuation Right – Use proper valuation methods (EBITDA or revenue multiples) to ensure fairness and avoid future disputes or surprises.

✅ Practice What You Preach – Advisors often create retirement plans for clients but neglect their own. Your firm deserves the same level of care and strategy.

Connect with Brooklyn H. Brock

🌐 Ellevate Advisors
🔗 LinkedIn

Connect with Catherine Tindall

🔗 LinkedIn
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📧 Email: admin@dominiones.com
🌐 Visit Dominion Enterprise Services

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