Approximately 11% of advisors with a succession plan intend to pass their practice to a family member, according to research from SmartAsset. But family succession also introduces unique challenges: How do you train someone who is both an employee and a family member? Those experiences broaden a successor’s perspective while helping them develop confidence independent of their family relationships. Building a Legacy that LastsWhen done well, family succession can be a powerful differentiator. Senior advisors often have decades-long relationships with clients, while next-gen advisors can build meaningful connections with those clients’ children and grandchildren as they navigate their own financial lives.