This episode explores some of the intricacies of succession planning and the idea of graduating rather than retiring. Our guest, Eric Brotman, CEO of BFG Financial Advisors in Baltimore, sheds light on intentionally structuring his firm uniquely from the start. By recruiting the right talent and creating plans for equity partnerships, the firm has surpassed expectations in its market reach and achievements.

In this episode, Rob, Phil, and Eric delve into:

• Building your firm successfully with young advisors.
• Selling equity to your team to help with your succession planning.
• Why most financial advisors are not planning for the future.
• A peek into the new edition of Eric’s Book, Don’t Retire…Graduate!.

Key Takeaways:

• It’s better to educate and invest in your team and have them leave than to not educate them and have them stay.
• Bring in junior advisors who are much younger than you. Your team should be staggered over ages for a successful transition and for your future retirement to be successful.
• You need the right mentors and coaches, in any industry, to know the right tools for the right job. This is no different in the financial advising and planning industry.
• Retirement should not be the absence of work, but rather, the absence of the need to work. Retirement is not the end of your life, it’s the start of a different chapter.

“What I am doing in every conceivable way is trying to take care of everyone here whose skin is in the game. And if I do that, and it doesn't require private equity, everyone here will not only benefit, but it will feather their nest for a generation.” – Eric Brotman

About Eric Brotman: Eric D. Brotman, CEO of BFG Financial Advisors, started his financial planning career in 1994 in Baltimore. He holds a BA from the University of Pennsylvania, a Master's in Financial Services, and multiple financial certifications. Eric founded Brotman Financial Group, Brotman Consulting Group, and Brotman Media Group. He's served on numerous boards, including the Maryland State Retirement & Pension System, hosted the Don’t Retire… Graduate! podcast, authored the award-winning book, Don’t Retire… Graduate!, and has contributed regularly to Forbes.com and WBAL TV.

Connect with Eric Brotman:

Website: https://bfgfa.com/

Website: https://brotmanconsultinggroup.com/

Website: https://brotmanmedia.com/

LinkedIn: https://www.linkedin.com/in/ebrotman/

X: https://x.com/brotmanplanning

Book: https://brotmanmedia.com/books/

Podcast: https://brotmanmedia.com/podcasts/

Episode References:

• The Truest Fan Mastermind

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