Video: Succession planning (3) – criteria for success

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:

Video: Succession planning (1) - the latest wave of consolidation
Video: Succession planning (2) - people   

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