Aviva’s Phil Bayles on being about clear about the goals when undertaking succession planning.
In the third part of this week long look at succession planning Bayles, chief distribution officer for intermediaries at Aviva looks at where to go for advice.
He sets out how individual aspirations and where people are in their life stage will impact each bespoke plan.
But notes that there is no shortage of routes to find expert support including the insurer having a body of well-established advisors who have been through the process.
"In my experience of talking to brokers this is a life changing decision for the owners of the business, the staff and customers," he observes.
The process can take 12-18 months: "The point is that you need the right advice at each point of your journey," he notes.
Catch up on the first two episodes:
The FCA’s consultation on the Insurance Distribution Directive ends soon and Branko Bjelobaba wonders if the IDD goes far enough
The jailing of a fraudster led the clicks this week, followed by profits, a buyout, an FCA warning and an apology from the CII.
Pen Underwriting’s Nick Wright, argues that now is the time to address the root cause of commercial payouts with proper risk management and prevention of workplace accidents.
Test your knowledge of the week's news with our topical quiz.