RIA Succession Planning: How NextGen Advisors Can Earn the Opportunity

In this episode of The Blueprint | FPA NexGen® Podcast, hosts Mike Zarrelli, CFP®, EA and Alison Miller, CFP® sit down with Andrew Mirolli, CEPA® Co-Founder and Head of Client Services at buyAUM.com, to explore one of the financial planning profession’s biggest opportunities: RIA succession planning. Andrew explains how early-career financial planners can position themselves to become trusted successors, build more valuable advisory practices, and earn the confidence of senior advisors. The conversation covers the importance of earning the CFP® certification, developing recurring revenue, delivering exceptional client service, and proving that you are prepared to protect relationships built over decades. “Don’t wait for things to be handed to you. Take the stairs.” What You’ll Learn - How young financial advisors can identify succession opportunities in their local markets - Why earning the CFP® certification can strengthen your position as a potential successor - How to prove that you are ready to inherit important client relationships - Why recurring fee-based revenue can increase the long-term value of an advisory practice - How financial planning, client service, and trust contribute to stronger client retention - The practical differences between internal and external RIA succession plans Key Takeaways - A succession opportunity must be earned through consistent performance—not assumed from a promise - Senior advisors want successors who will protect their clients and preserve their legacy - Bringing in new clients and building professional relationships demonstrates readiness for leadership - Recurring advisory and planning revenue generally creates a more durable business than transactional revenue - Exceptional service helps build the client loyalty buyers value during a transition - The best succession structure depends on the goals of the owner, successor, team, and clients Episode Timestamps 00:00:00 – Introduction and Andrew Mirolli’s path to buyAUM 00:04:40 – The RIA succession opportunity for NextGen advisors 00:09:20 – “Take the stairs” and prove you can lead client relationships 00:13:15 – Building a financial planning practice with long-term value 00:18:30 – Niches, trust, financial planning, and client retention 00:22:55 – What retiring advisors want in a successor 00:27:05 – Internal versus external succession plans 00:32:02 – Why financial planning is a career worth building Executive Producer: @Jadah Riley