This document discusses succession strategies for financial advisors. It covers four critical pieces: understanding what the practice looks like, creating transferable value, determining value, and transitioning the practice. Key points include building a team-based model to ensure client and management succession, conducting audits to increase value, using the income approach to valuation, negotiating purchase agreements, and including terms like non-competes and earn-outs. The overall message is on planning for an orderly transition that protects clients and realizes full value for the seller.