If your business can’t run without you, it’s not built to last…it’s as simple as that! Tyson Ray and Kim Cochenour dive into the tough but necessary conversations around delegation, team building and preparing for succession.

From letting go of control to right-sizing your client base, they reveal the mindset shifts every advisor needs to make to lead with vision – and eventually step back with confidence.

• Tyson and Kim look at whether it makes sense to grow your team, fire some of your clients or sell your practice.
• Kim starts the conversation by highlighting the fact that, if your business needs 100% of you to function, you’re dealing with a weight that’s only going to keep getting heavier…
• Tyson shares his story of right-sizing his business twice – and why it was a good idea (both times!).
• During that process, Tyson basically ended up saying “you’re not good enough” to about half of his clients, and this had MAJOR repercussions!
• Ask yourself this: Is delegating part of the decision of growing my team or is it part of someone who’s already done that?
• Tyson opens up about when he got to the realization that he couldn’t keep running his business – and his life – at that pace.
• When building your own team, whether it’s for business, football, basketball or something else, you need to remember that you typically don’t pick all the right players the first time.
• A big win Tyson had in his business was to let go of responsibilities and letting go of control.
• Being able to let go, getting rid of that ego part leads to better business and leadership decisions.
• Tyson touches upon the difference between micromanaging and empowering team members – something he has done with Kim herself!
• Kim shares an important reminder: whether you’re going to plan to grow your business or to start building a succession plan, it’s going to take you a while to get there.
• Tyson and Kim wrap the conversation up by addressing a career-defining question every advisor should ask themselves.

Mentioned in This Episode:

TotalSuccession.com

FORM Wealth Advisors

Tyson Ray

Kim Cochenour

What if selling your advisory business wasn’t the end, rather the beginning of something new? Tyson Ray and Kim Cochenour sit down with SkyView co-founder Aaron Hasler to explore the emotional and strategic layers of acquisitions and succession planning.

From preparing Gen 2 successors to avoiding common retirement pitfalls – it’s a candid conversation about legacy, leadership, and what it really takes to step away with purpose.

• Tyson Ray and Kim Cochenour are joined by SkyView co-founder Aaron Hasler.
• One of SkyView’s strengths is adding capital and fueling the industry with the funds advisors can use for the succession plan of their choice.
• Aaron is really excited about fueling the next generation and thinking about how to get more advisors into his industry.
• The idea of what’s coming into advisor retirement is something that’s top of mind for a lot of advisors.
• Aaron believes that today advisors have more choices than ever when it comes to retirement.
• Over the last 24-36 months, Aaron and his partners have noticed a trend: the generation 2 of a practice is starting to buy out the founders.
• A talent drain is something Aaron sees as a current industry challenge.
• Aaron touches upon where he thinks someone who’s thinking about potentially selling their practice should start from.
• Advisors’ education has been SkyView’s #1 challenge since the business was started seven years ago.
• Tyson brings up a big mistake advisors tend to make: they know so much about financial and retirement planning and take them so much for granted that they end up not doing them for themselves…
• Aaron takes back the curtain on how he helps his clients – he advises them to work on their succession plan while they’re working in and on your business (even if they’re in their 30s or 40s).
• Aaron talks about the key things advisors preparing themselves to go through a succession should consider, as well as his best practices regarding acquisitions and finalizing deals.
• “I think that a lot of why advisors struggle with retirement is this is a fun business,” says Aaron.
• Aaron illustrates an example of a client he has recently helped with the succession planning process.
• Tyson, Aaron and Kim talk about the good and the bad of “downloading” the knowledge that’s in your head and preparing yourself to pass that along to the next generation of advisors.
• Advisors need to keep in mind that it may take multiple people to replace them.
• Kim points out that many advisors confuse the sale of their business as the end of their business or their career.
• However, an exit can be a move toward something else...
• Aaron recommends addressing your succession planning annually.

Mentioned in This Episode:

TotalSuccession.com

FORM Wealth Advisors

Tyson Ray

Kim Cochenour

Aaron Hasler on LinkedIn

SkyView Partners

Ameriprise Financial

Stop your succession planning from becoming a list of regrets! Tyson Ray and Kim Cochenour tackle the overlooked, yet vital, element of vision – revealing how advisors often miss defining their own “What’s next?”

Tune in to learn why, without this foundational piece, tactics are just numbers and how asking “What do I want to do when I grow up?” (even in retirement) is key to a fulfilling transition.

• Tyson Ray and Kim Cochenour address something many advisors skip when it comes to succession planning: VISION.
• Kim brings up the fact that, while advisors are supposed to be planners and help their clients with a long-term path for success, they tend to jump straight to the logistics when it comes to their own transition.
• Kim discusses how, without vision, all tactics and data are just numbers – everything becomes a reactionary piece, instead of being strategic.
• Tyson points out that the question “What do you want to do when you grow up?” is something that should be asked both personally and professionally, even in retirement, because people are trying to define what their life purpose is.
• Tyson believes that not defining what you want to do both personally and professionally when you exit can lead to some regrets… or, ultimately, even death.
• Your financial advising career is never ending: You’re helping people but that can suck everything out of you and end up draining you.
• Tyson shares an example of a client who initially didn’t have a vision for his professional and personal life and what that ended up leading to.
• Tyson goes through a mental exercise that can help you spur your reflection process.
• An important question to ask yourself is “What is success for me if I take the money out?”
• Tyson and Kim emphasize that people who care about you play a crucial role in your journey, as they can help you identify “blind spots” you aren’t seeing.
• Kim and Tyson share a small challenge. Over the next month or so, focus on: 1) walk in the morning; 2) talk it out; 3) picture your successor in your role.
• Tyson wraps things up by explaining why you need to have space in your life – even if you feel that you’re always busy!

Mentioned in This Episode:

TotalSuccession.com

FORM Wealth Advisors

Tyson Ray

Kim Cochenour