1. Succession Planning The 10 Most Important Non-Legal Questions
[To be read by CNL representative introducing Dr. Rhodes]
Good day everyone. My name is [PERSON’S NAME]. I am the [INSERT TITLE HERE] for CNL Securities Corp.
I would like to welcome you to today’s webinar, titled “Succession Planning: The 10 Nonlegal Questions You Must Ask.” This Practice Management program is hosted by CNL Securities Corp., a subsidiary of CNL Capital Markets.
Please note, the material that will be discussed in today’s webinar does not constitute an offer to sell and/or buy securities. Securities can be offered only by a prospectus.
This material is solely for educational purposes. The information in this presentation is provided only as a summary of complicated topics and does not constitute legal, tax, investment or other professional advice on any subject matter. Further, the information is not all-inclusive and should not be relied upon as such. You should not use this presentation as a substitute for your own judgment and you should consult professional advisors before making any investment decisions.
Practice Management

2. Why Succession Planning?
Every business owner needs to have a written succession plan:
A small percentage of business owners have a written succession plan in place.
Read Slide.

3. Have You Thought About the Following?
What will happen to your clients if you’re incapacitated for six months?
Who will manage the daily aspects of your business?
Who will care for the needs of your family?
Discuss the following:
Have a plan
Tell your family
Tell your team
Tell your “best” clients

4. Where to Begin?
Succession planning begins with asking the right questions and finding the best answers for you and those important to you.
Read slide followed by:
During this presentation, we will discuss the 10 nonlegal questions you must ask when preparing your Succession Plan.
Points to consider:
Progress note Perfection… the plan does not have to be perfect
You care about your clients… you have an asset you have built… take action!

5. The 10 Most Important Non-Legal Questions
Do you have an Out-of-Office Plan?
Will your staff know what to do?
How will your staff and other ongoing expenses be paid?
Who will notify your clients, and what will be communicated to them?
Who will contact your broker-dealer?
5. Will your family receive income?
6. Who communicates information pertaining to your health to your clients?
7. Is there another financial representative who will assist you during this time?
8. Who has access to your technology?
9. What is the value of your practice if it needs to be sold?
10. Are the answers to these questions in writing, and have the appropriate
individuals been informed of their responsibilities for implementation?
These 9 questions are just the beginning
Have the answers to these questions in writing

6. The 10 Non-Legal Questions, continued
Do you have an “If something happens to me” letter ready to be sent to your clients?
What does your age have to do with your Succession Plan?
Have you asked qualified family members in writing if they would like to be considered as part of your Succession Plan?
If you get a “yes” or “maybe” from a family member — what’s next?
Your clients will want to know what “you” would want them to do
This tells them you are interested in their life… not just their money
Involve your team in answering these questions

7. The 10 Non-Legal Questions, continued
Do you have the best business model to realize the greatest value?
Do you review your Succession Plan on a regular basis?
Do your spouse, children or both know the details of your Succession Plan?
Do you have an estimated implementation timeline and sequence of events for implementation?
Do your clients know of your Succession Plan?
Meet with your top 20 clients to discuss your plan
Review the answers to these questions annually

8. In Brief Consider everything Don’t delay
The unexpected can happen at any time
Consider everything: It is important that you consider the different aspects of your Succession Plan.
Don’t delay: The time to develop your Succession Plan is while you are still in the office.
Remember: The unexpected can happen at any time.

9. Comments/Questions
[To be read by CNL representative introducing Dr. Rhodes.]
Thank you, Dr. Rhodes, for sharing your wonderful insights on this topic.
At this time, we would like to open the floor to any questions from the audience.

10. CNL Securities
CNL Center at City Commons 450 S. Orange Ave. Orlando, FL 32801–3336
For questions about today’s meeting, please Dr. John Rhodes, To learn more about CNL’s Practice Management program, visit cnlsecurities.com.
CNL Securities Corp., Member FINRA/SIPC
[To be read by CNL representative introducing Dr. Rhodes after questions are answered.]
Thank you, once more, Dr. Rhodes for being here with us today and providing us with key strategies on how to create an effective Succession Plan.
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