Why Succession Planning Fails Financial Advisors… And How to Fix It with Jackie Wilke
Release Date: 01/13/2026
What to Do When You’re Behind on Succession Planning
Total Succession
Succession planning is often postponed, not because it’s unimportant, but because taking care of clients always feels more urgent. Tyson Ray and Kim Cochenour unpack why “later” quietly becomes “now,” how life events can force decisions before you’re ready, and why clarity beats shame every time. Tune in to learn how to get started where you are and move toward an outcome that happens on your terms, not by accident. Today’s episode kicks off with Tyson Ray sharing the main reason why founders put succession planning off, even if they know it matters. “The urgency of caring for...
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The Messy Middle of Succession: Not Out, Not In, Still Here
Total Succession
Succession planning isn’t just about stepping away, it’s about who you become once you stop doing everything yourself. Tyson Ray and Kim Cochenour dive into the messy middle of succession planning, where identity, control, and clarity collide and founders are forced to evolve. You’ll hear why succession is built through trial and adjustment, how to create a business that can live beyond you, and the powerful question every advisor must eventually answer: If you’re no longer running the show… who are you now? Tyson Ray kicks the conversation off by sharing something he was once told:...
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20 Years of Trial and Error: Lessons From Tyson’s Personal Succession Journey
Total Succession
Tyson Ray and Kim Cochenour discuss Tyson’s 20-year journey and reveal the raw truth behind his internal succession plan, and why he eventually chose the joy of client impact over the lure of a multi-million dollar buyout. You’ll hear about common succession planning mistakes and the hard-won processes that finally ended Tyson’s cycle of “burning through people”, including the S.P.A.C.E. framework and EOS to build a firm with staying power. If you’re wondering why mastering succession planning is more critical than ever, as the industry faces a widening advisor shortage, this...
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Why Succession Planning Fails Financial Advisors… And How to Fix It with Jackie Wilke
Total Succession
Succession planning succeeds or fails in just a few critical places, and most financial advisors don’t realize where they’re vulnerable. Tyson Ray and Kim Cochenour are joined by Jackie Wilke to break down the three make-or-break factors in succession planning, from redefining rainmaking to building leaders who can truly care for clients. You’ll hear why succession is your final act of client service, how to future-proof your firm, and what it really takes to prepare the next generation of advisors to step up. Tyson Ray and Kim Cochenour are joined by Jackie Wilke to dig into the three...
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Succession Planning, Legacy, and Letting Go: The Story Behind the Total Succession Book
Total Succession
Tyson Ray’s new book, Total Succession, actually didn’t start as a book idea… but as a responsibility. Kim Cochenour turns the mic on her co-host Tyson, to explore why succession is about far more than just retirement, and how identity, control, and legacy shape the decisions advisors struggle to make. Tune in to hear the personal moments, hard-earned lessons, and the S.P.A.C.E. framework behind Total Succession – and why none of us get to the next chapter alone. This episode sees Kim Cochenour interview co-host Tyson Ray to discuss something that has been years in the making, and...
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Should You Sell Your Advisory Practice? How to Handle Unsolicited Offers
Total Succession
When a buyer comes calling, it can feel flattering, urgent, and surprisingly emotional, but an offer is NOT a succession plan. Tyson Ray and Kim Cochenour break down how advisors should think about succession when acquisition conversations start, from asking the right questions to understanding what you may be giving up beyond the numbers. You’ll learn how to evaluate opportunities on your terms, protect your clients and culture, and avoid regrets in a world where there is no such thing as a perfect exit. This episode sees hosts Tyson Ray and Kim Cochenour address the scenario in which...
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How to Rethink Your Exit When Succession Doesn’t Go as Planned
Total Succession
Succession planning doesn’t always go the way you expect… and when it falls apart, that moment can reveal the truth you’ve been avoiding. Tyson Ray and Kim Cochenour break down why plans derail, how to trust your gut over external pressure, and what founders should do when people or expectations start to crumble. You’ll learn why a broken plan can ultimately protect your legacy, strengthen client care, and open the door to a better path forward. Tyson Ray and Kim Cochenour discuss what to do when your succession plan falls apart, and how advisors can protect their legacy even when the...
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How Faith and Fit Shape a Better Succession Plan with Brian Church
Total Succession
Succession planning isn’t just a business strategy, it’s an identity shift. Tyson Ray and Kim Cochenour are joined by Brian Church to explore the emotional and practical realities founders face as they scale, surrender control, and redefine their best vocational life. You’ll hear hard-won lessons from Advisory DNA’s journey, why advisors must seek trusted community, and how letting go can actually lead to more clarity, freedom, and growth. Brian Church kicks things off by sharing Advisory DNA’s origin story, the inspiration behind its creation and the gap he was trying to fill with...
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Before the Deal, Have the Talk: Why Succession Begins With the People You Love
Total Succession
Succession planning doesn’t start with lawyers, valuations, or deal terms (or at least, it shouldn’t!)... It starts at home. Tyson Ray and Kim Cochenour address the topic of deeply personal conversations advisors need to have with their spouse or partner long before any transition becomes real, from aligning on “age and number” to navigating fears about the future. They discuss how to get on the same page, what to do when you’re not, and why the most important succession agreement you’ll ever sign is the unspoken one with the person who knows you best. Tyson Ray kicks things off...
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The Next Wave of Succession: Why Advisors Are Rejoining Bigger Firms to Regain Freedom with Alex Goss
Total Succession
Advisors are rethinking what they want their future to look like, and the old model of “go independent and grind forever” is losing its shine. Co-hosts Tyson Ray and Kim Cochenour, along with Alex Goss of NewEdge Advisors, unpack the new realities of succession – from soaring valuations and G2 buyout challenges to burnout driving many advisors toward bigger, better-resourced firms. You’ll hear about how deal structures are shifting, what buyers actually want, and why the real question isn’t just how you’ll exit… but what life will look like after you do. Alex Goss kicks the...
info_outlineSuccession planning succeeds or fails in just a few critical places, and most financial advisors don’t realize where they’re vulnerable.
Tyson Ray and Kim Cochenour are joined by Jackie Wilke to break down the three make-or-break factors in succession planning, from redefining rainmaking to building leaders who can truly care for clients.
You’ll hear why succession is your final act of client service, how to future-proof your firm, and what it really takes to prepare the next generation of advisors to step up.
- Tyson Ray and Kim Cochenour are joined by Jackie Wilke to dig into the three biggest areas where succession planning either takes off or falls apart.
- Jackie kicks things off by sharing her industry insights regarding succession and its relationship to team builders and building an advisor transition team.
- She notes that estimates forecast 37% to 46% of advisors planning to retire over the next 10 years – yet, most of them don’t have a succession plan in place.
- Despite what you may have thought, at the end of the day, succession planning is about the client.
- Jackie is a fan of a quote by one of her clients, who referred to succession planning as “their last act of client service.”
- Tyson sees the advisory industry as focused on wanting Gen 2 to be the rainmaker, not realizing that, at some point, the team needs caretakers for their clients.
- Jackie touches upon a mindset shift she believes could help advisors: redefining what rainmaking means.
- The modern rainmaker should be something that achieves business development-propelled growth, not because they’re selling something, but because they’re serving someone.
- “Human capital is such an advantage in our industry”, says Jackie while sharing several considerations leaders should keep into account to shape the future leadership bench of their firm.
- One of the biggest mistakes Tyson sees advisors make with their successor is to expect them to follow exactly in your footsteps to get to where you got to.
- However, if you think about it, what you did 5, 10, 20 years ago to get here now probably needs a different “who”, “how”, and “why”..!
- Jackie, Tyson, and Kim discuss ways to find talent and the right approach to firm growth and to develop a growth mindset.
- Fun fact: only 19% of kids stay with their parents’ advisor.
- Jackie touches upon what she thinks makes a business more attractive to a potential buyer or to a successor who wants to take over.
- Taking a minute to evaluate where your firm is at is the first step Jackie suggests taking to future-proof the next generation of advisors.
- Tyson explains why, over the last few years, he purposefully capped his income – and the impact that move has had on his firm.
Mentioned in This Episode:
Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First
Jackie Wilke on LinkedIn
First Trust blog and resources