Lots of startups are identified with their founders, and vice versa. But to truly thrive, companies need a plan for the unexpected—and the eventual expected—departure of the founder. In this episode, Joyce Franklin talks with wealth management industry icon Tim Kochis about succession planning for entrepreneurs, how he founded, grew, and merged his firm to create a new one with $5 billion in assets under management, and the advice he’s given to executives before and after their liquidity events. He even shares details about his own personal liquidity event.
Tim Kochis is the former CEO and chairman of Aspiriant, former president of the CFP Board of Standards, and a former member of the board of trustees for Charles Schwab mutual funds and ETF offerings. He is the author of four books about wealth management and succession planning.