Social media isn’t just for vacation photos or reconnecting with old friends. It’s a powerful tool for financial professionals to grow their business, build client relationships and show their experience. But using social media in a regulated industry takes strategy and care. This guide will help you build a strong, compliant presence while engaging your connections.

Why social media matters for financial professionals

Social media offers incredible opportunities for financial professionals. It helps you reach potential clients where they already spend time. It also allows you to showcase your personality and experience in a way traditional marketing can’t match. Regular engagement builds connections over time, turning followers into clients and clients into advocates.

Many financial professionals worry about compliance issues or struggle to find time for social media. But with the right approach, these challenges become manageable, and the benefits far outweigh the effort.

Get started

Before posting anything, take these important first steps to build your foundation:

• Know your audience. Who are you trying to reach? Young professionals? Pre-retirees? Business owners? Your content should speak directly to their needs and concerns.
• Choose the right platforms. Don’t try to be everywhere at once. LinkedIn works great for professional connections, while Facebook might better reach clients nearing retirement. Instagram can help you connect with younger audiences.
• Create a complete profile. Add a professional photo, compelling explanation of who you are and contact information. Make sure your profile clearly explains how you help people.
• Check compliance requirements. Understand what your firm and regulators allow. Many firms have specific social media policies you must follow.

Content that connects

You don’t need fancy tools or a marketing degree to create good content. Focus on these basics:

• Educate, don’t sell. Share helpful financial tips or break down recent economic news.
• Tell stories. Share personal experiences or examples that illustrate financial concepts.
• Use visuals. Posts with images or videos get much more engagement. Create simple infographics, share charts that explain concepts or record quick tip videos.
• Be consistent. Regular posting builds connections and keeps you top-of-mind. Even posting just twice a week makes a difference.
• Include a call to action (CTA). Every post should guide your audience toward a next step. A simple CTA like “Learn more on my website” or “Contact me to discuss your goals” can turn passive engagement into meaningful connections. Be sure to link back to your own site or include contact details so interested followers know how to reach you.

Save time with Ameritas content

If you’re looking for high-quality, client-friendly content to share, Ameritas offers resources that can help. Visit Ameritas Insights to find blog articles on topics like retirement planning, life insurance and financial well-being. These blogs are written with clients in mind and can be shared directly to your social media platforms to provide value and spark engagement.

You can also explore the Ameritas YouTube channel for educational videos that explain financial concepts in a clear, visual format. Sharing these videos with a brief caption or personal insight can help reinforce your experience while keeping your content fresh and relevant.

When sharing Ameritas content:

• Add your own commentary to personalize the post and connect it to your audience’s needs.
• Tag Ameritas when appropriate to increase visibility.
• Always check with your firm’s compliance team to ensure you’re following guidelines for third-party content sharing.

By leveraging existing Ameritas content, you can stay active on social media without having to create everything from scratch—saving time while still delivering meaningful value to your followers.

Engagement: Building relationships

Social media works best when it’s truly social. Try these engagement strategies:

• Respond quickly. Answer questions and thank people for comments within 24 hours.
• Ask questions. Encourage followers to share their thoughts or experiences.
• Join conversations. Comment thoughtfully on posts from clients, colleagues and industry leaders in your field.

Compliance considerations

Staying compliant on social media requires attention to detail. Keep these rules in mind:

• Don’t give specific investment advice.
• Avoid promises about performance or returns.
• Archive your posts—most firms require it.
• Disclose any relationships with products or services you mention.
• When unsure, ask your compliance team to review your content.

Measuring success

How do you know if your social media efforts are working? Track these key metrics:

• Engagement rate. Are people liking, commenting and sharing your posts?
• Follower growth. Is your audience growing steadily?
• Website traffic. Are people clicking through to your site?
• Lead generation. Are you getting inquiries from social media users?
• Client feedback. Do clients mention seeing your content online?

Time-saving tips

Many financial professionals struggle to find time for social media. These strategies help:

• Use scheduling tools. Plan and schedule posts in advance with scheduler tools.
• Create content batches. Set aside a few hours monthly to create multiple posts at once.
• Repurpose content. Turn one blog post into multiple social media posts or reshape content across platforms.
• Set time limits. Dedicate specific time for social media rather than checking constantly.

One post at a time

Social media helps financial professionals connect with clients and prospects. Focus on being helpful, staying compliant and showing your authentic self. Start small, stay consistent and adjust based on what your audience responds to.

The most successful financial professionals on social media aren’t always the most polished—they’re the most genuine.

Social media is a marathon, not a sprint. Building connections takes time, but the relationships you create will be worth it.

In the financial services industry, you’re continuously evaluating where you can best serve your clients, grow your business and build a meaningful career. While compensation, product offerings and technology are all important, there’s another factor that often goes overlooked, but can make the difference – mutuality.

As a financial professional, understanding why mutuality matters isn’t just about knowing how a company is structured. It’s about recognizing how that structure impacts your clients, your practice and your future.

What is mutuality?

At its core, mutuality refers to a business model in which a company is owned by its policyholders rather than shareholders. This means the company exists to serve the long-term interests of its clients, not to maximize profits for external investors.

In a mutual-based organization, profits are typically reinvested into the business to improve products, enhance services and strengthen financial stability. In some cases, policyholders may even receive dividends. But the real value of mutuality lies in the alignment it creates between the company, the professionals who represent it and clients.

Why mutuality matters to financial professionals

1. Client-first culture

In a mutual-based organization, there’s no pressure to meet quarterly earnings targets or appease shareholders. This allows financial professionals to focus on what truly matters – doing what’s right for your clients.

That means:

• Recommending strategies based on long-term needs, not short-term sales goals.
• Building trust through transparency and consistency.
• Creating financial strategies that prioritize client well-being over corporate profits.

This alignment fosters deeper relationships and greater client loyalty, two essential ingredients for a thriving practice.

2. Long-term stability

Mutual-based organizations are built for endurance. Without the volatility of stock markets or the influence of investors, mutual companies can take a long-term view, making prudent decisions that prioritize sustainability over speed.

For financial professionals, this translates into:

• Stability through economic ups and downs.
• Confidence in the company’s financial strength and resilience.
• A reliable foundation for building a lasting career.

In an industry where change is constant, mutuality offers a rare sense of stability.

3. Shared success

Because mutual-based organizations are owned by their policyholders, profits are typically reinvested to benefit clients and the professionals who serve them. This can take the form of better products, improved technology, enhanced support and competitive compensation.

For financial professionals, this means:

• Access to tools and resources that help grow your business.
• A compensation structure that rewards long-term client relationships.
• A company that reinvests in your success, not just its bottom line.

In a mutual model, your success and the company’s success are one and the same.

4. Values-driven environment

Mutuality often fosters a culture grounded in values like trust, service and integrity. These aren’t just buzzwords, they’re embedded in how mutual-based organizations operate and how they treat their people.

Financial professionals who thrive in mutual organizations often say they feel:

• Respected as leaders, not just producers.
• Empowered to do the right thing, even when it’s not the easiest thing.
• Part of a mission-driven organization that puts people first.

This kind of culture attracts professionals who are not only skilled but also deeply committed to making a difference.

Why Ameritas?

Founded in 1887, Ameritas is a mutual-based organization with a long history of serving individuals, families and businesses across the country. As a mutual-based company, Ameritas is owned by its policyholders, not shareholders, which means every decision is made with the long-term interests of clients and financial professionals in mind.

Here’s how Ameritas brings mutuality to life for financial professionals:

• Client-centered products: Ameritas designs its offerings to meet real needs, not to satisfy investor expectations. That means you can recommend strategies with confidence, knowing they’re built for long-term value.
• Supportive culture: At Ameritas, you’re not just a number. You’re a valued partner. The company invests in your growth with training, mentorship and a collaborative environment that encourages innovation and independence.
• Financial strength: With over a century of experience and a strong financial foundation, Ameritas offers the stability professionals need to help build lasting careers and client relationships.
• Shared Purpose: Ameritas believes in doing business the right way, with integrity, transparency and a commitment to community. If you’re looking for a company that aligns with your values, you’ll feel right at home.

Mutuality isn’t just a corporate structure, it’s a philosophy. It’s about putting people first, thinking long-term and building something that lasts. As a financial professional, it offers you a powerful advantage – the freedom to serve clients with integrity, the support to grow your business and the confidence that comes from working with a company that shares your values.

If you’re ready to take the next step in your career with a company that puts mutuality into action every day, Ameritas is ready to welcome you.

In a profession built on trust, relationships and long-term vision, financial professionals know that success isn’t just about numbers, it’s about being part of something meaningful. It’s about having a voice in the direction of your business, your firm and your future. And yet, too often, they find themselves in environments where decisions are made from the top down, and field input is an afterthought.

That’s why being part of a culture that listens to financial professionals and where your voice is heard can be a game-changer.

Why your voice matters

As a financial professional, you’re on the front lines. You understand your clients’ needs, the challenges of running a practice and the shifts happening in the marketplace. When your insights are valued and acted upon, it leads to better outcomes for your clients and your business.

Having a voice means being able to influence the tools you use, the products you offer and the way your firm supports your growth. It means being part of a feedback loop that drives innovation, improves communication and ensures that the strategies being developed align with what’s actually happening in the field.

Turning insight into action

At Ameritas, this belief is more than a philosophy, it’s a practice. Through structures like the Field Advisory Cabinet, financial professionals have a direct line to leadership. But more importantly, they have a real impact. They help shape things like product design, enhancements to technology platforms and improving how the organization communicates with the field.

Ameritas has created a network of subcommittees under the Field Advisory Cabinet, each focused on specific areas like product development, technology and marketing. These groups are made up of field associates who bring their expertise and passion to the table, ensuring their insights directly influence key strategic decisions across the organization.

Participation in these subcommittees gives financial professionals a chance to dive deeper into the issues that matter most to them, collaborate with peers and work directly with Ameritas leadership to implement meaningful improvements. It’s a hands-on way to shape the future of the profession and to grow as a leader in the process.

This kind of collaboration ensures that decisions aren’t made in a vacuum. They’re informed by the people who know the business best. And when financial professionals see their feedback reflected in real changes, it reinforces a culture of trust, respect and shared purpose.

Study groups: where peer voices thrive

Beyond formal leadership channels, one of the most powerful ways financial professionals are heard is through study groups. These small, peer-led communities bring together professionals in similar roles to share best practices, hold each other accountable and support both business and personal growth.

Study groups aren’t just about networking. They’re about transformation. Members meet regularly to discuss what’s working, what’s not working and how to grow together. With the support of a home office representative and a field chair, these groups become safe, energizing spaces where ideas are exchanged freely and voices are amplified.

For many, study groups become a cornerstone of their professional journey, offering not just insight, but inspiration.

Conferences and events: platforms for impact

Large-scale events like national conferences and regional gatherings also play a vital role in elevating advisor voices. These aren’t just opportunities to connect. They’re platforms for influence. Financial professionals come together to share experiences, challenge assumptions and contribute to the broader direction of the organization.

Whether it’s through breakout sessions, roundtable discussions or informal conversations with leadership, these events are designed to ensure that field perspectives are not only heard but integrated into future planning.

The difference a listening culture makes

If you’re a financial professional who wants more than just a seat at the table, if you want to be part of a firm where your insights help shape the future, then being in a culture that listens is essential.

When your voice counts:

• You feel more connected to your work and your clients.
• You’re more likely to stay engaged and grow your practice.
• You help build a stronger, more responsive organization.

And perhaps most importantly, you become part of a community where leadership is shared, not imposed.

A future you help shape

In a world where many firms talk about empowerment but few deliver, finding a place where your voice truly counts can be the difference between feeling like a number, and feeling like a leader.

If you’re ready to be heard, to contribute and to grow in a community that values your perspective, it might be time to explore what’s possible in a culture built on listening.

Learn more about Ameritas.

Ready to make your voice count?

Connect with us today and discover how your insights can help shape the future—for your clients, your business, and yourself.

Securities offered through affiliate Ameritas Investment Company, LLC, member FINRA/SIPC. Financial planning and investment advisory services offered through affiliate Ameritas Advisory Services, LLC.

Thompson Financial Group (TFG) has a long history serving clients in the Northern Maine farming community. Started by Potato Farmer Art Thompson in the 1960s, the financial practice has steadily served a growing client base, providing customized financial strategies for individuals, families and businesses.

They’re still thriving today due to consistent commitment to their core values and thoughtful, effective succession planning. Multiple generations of owners have successfully passed the torch of leadership in this financial practice. Read our blog to learn more about the importance of succession planning for financial professionals.

Here are six succession planning tips that have made the TFG team succession planning champions.

1. Successors committed to core values of the financial practice

Unwavering commitment to excellence in serving clients is a hallmark of the culture at Thompson Financial Group. Through each generation of succession in leadership, the owners of TFG ensured their culture of excellence remained strong. In doing so, they ensured the future success of the team and maintained their outstanding reputation in the region.

2. Intentional succession planning

Art knew he could not leave the future of TFG to chance. When his son, Jay Thompson, first joined the practice working with clients, Art began to look down the road to plan for future leadership of the practice. Jay was the first partner brought in as part of his succession plan.

“We put a buy-sell agreement in place, funding it with life insurance,” Jay explained. “Then as new partners came in, we just amended the buy-sell agreement.”

3. Community relationships for leadership talent

The next addition to the leadership succession team was discovered through TFG’s strong community ties. Art and Jay met Brian Hamel through a local development project. Brian impressed them with his strong leadership skills. They discussed having Brian join the TFG team, with a long-range view of eventually making him an owner and successor.

“One of the things that attracted me to this practice was the character Art had, the integrity, the honesty, the hard work and his commitment to his clients,” said Brian. “I told Art that I would continue that commitment. And when it comes time for me to create a succession plan, I will choose someone who also shares that commitment.”

When the time came for the next phase of succession planning, their strong community and client relationships paid off yet again. Bryan Thompson, son of a TFG client, had also worked closely with Brian Hamel in community work. When he was looking to make a career change, he connected with the leaders he had long admired. After working with clients and being mentored by Art for several years, Bryan expressed interest in ownership. Brian Hamel began evaluating and preparing him as a successor.

4. Ameritas practice management team support

“When I was first looking at buying this practice, the first thing Art told me was, ‘You need to talk to Ameritas,’” Bryan Thompson explained. “He connected me with the right leadership at Ameritas to tell the story of what I wanted to do. They were behind me from the help to transfer this financial practice that has been around for many years to me in the next generation.”

Confirming the value of the company was one of those critical steps.

“I also utilized the connection through Ameritas to do a valuation on the company as well, just to have a third party from the outside come in and tell me what the value of this company is, what am I purchasing, and does it line up with what we’ve been doing all along for valuation,” said Bryan.

5. Continuity for clients and the team

The TFG leadership team took great care to ensure that both their team and clients felt comfortable and well cared for throughout the leadership transition.

“I picked up new responsibilities, new leadership roles, and as I worked into those and worked into buying more ownership, I had greater responsibility, but I was already with my team,” said Bryan. “They expected that to happen. It was at the forefront with all our clients, we were talking about it in all our meetings, when we did reviews, and in our newsletters as well. Our clients and staff, they were all very appreciative of the planning and communication we had done.”

6. Vision for future growth

Creating and executing a thoughtful succession plan is critical in ensuring the future of a financial practice. But a strong strategy for growth is also essential. That is what is driving Bryan as TFG serves the next generation of clients.

Under Bryan’s leadership, TFG has now opened a new office in Nashville, Tennessee, in addition to the original flagship location in Presque Isle, Maine. Bryan talks about their future with energy and passion that would make Art proud. “My vision for this practice and taking it into the future is growth — and part of that growth is touching more clients’ lives and bringing more people into this practice to do this great work with clients.”

“I think what’s so fulfilling for me is building a team,” he concludes. “And building a team who cares just as much as I do, and just as much as the past owners do, about our clients. And I think it was very fulfilling for Art seeing everything he built live on into the future.”

Ameritas can help

Need help with succession planning for your own financial practice? Our practice management team works alongside our independent financial professionals to ensure their businesses thrive into the future. Learn more about our offerings to create a succession planning strategy for your financial services business. Or contact our practice management team for personal assistance.

For many financial professionals, building a career under the banner of a large firm once made sense. There was structure. There were resources. There was a clear path to follow. But as your experience and confidence grow, so does your desire for more freedom, more control and more flexibility to serve your clients in their best interests. More desire to run your business your way.

If you’re starting to feel like your current environment is holding you back, you’re not imagining it. The restrictions of your current firm can create real barriers, barriers that limit your ability to build a business that truly reflects your values, your goals and your clients’ needs.

The hidden limits that hold you back

On the surface, working with a large firm may seem like a safe, stable choice. But dig a little deeper, and you’ll often find limitations that make it difficult to grow in the direction you want. These may include: 

• Product restrictions that favor proprietary products and services over what’s best for the client.
• Limited strategic flexibility confines you to a narrow business model, whether insurance-only, advisory or fee-based, with little room to evolve as your practice and clients’ needs change.
• Fragmented technology that forces you to work across outdated or incompatible systems, adding friction to planning, client communication and business operations.
• Barriers to scaling your practice, such as rigid team structures or lack of support for your development, make it difficult to expand your capabilities or build the team you envision.
• Lack of succession flexibility makes it difficult to plan for the future of your business or exit on your terms when the time comes.

When these challenges start to interfere with how you serve clients or whether you’re able to grow, it may be time to reimagine your future.

Rediscover what it means to be independent

We believe the future of financial services belongs to professionals who want to build something of their own, on their terms. That’s why we’ve created a platform designed around the principle that you should be free to run your business your way.

We empower you with:

• Access to a broad range of options, not proprietary products, so you can tailor strategies to each client’s goals.
• Flexible compensation models, whether your focus is advisory, brokerage, life insurance or fee-based financial planning.
• Technology that supports your business, so you can run a more efficient, modern client-focused business.
• Practice-building resources and support, designed to help you grow, hire and scale your firm your way.
• Succession and continuity options that give you control over your long-term plans and your legacy.

Whether your specialty is retirement income planning, business owner planning, multigenerational wealth transfer or comprehensive financial strategies, we give you the tools and freedom to meet your clients where they are and to grow your business in a way that aligns with your goals.

Serve your clients the way they deserve

Your clients don’t fit into neat boxes, and your business shouldn’t either. When you’re limited to a narrow range of products or confined by a static business model, it’s not just your practice that suffers. It’s your ability to act in your clients’ best interests.

We put that decision-making power back in your hands. Our open architecture approach allows you to deliver the right strategies for each client’s situation, not just what fits a sales target or platform restriction.

Build the business you envision

If you’ve ever felt like you’re working in someone else’s business rather than on your own, you’re not alone. Many financial professionals reach a point in their careers when they realize they’re ready for more freedom to innovate, more flexibility to grow, and more control over how they serve and scale.

We’re here to help you turn that realization into action. We offer:

• A flexible platform that supports solo financial professionals and growing firms alike.
• Coaching and consulting to help you clarify and execute your growth plan.
• Integrated technology and planning tools that streamline your workflow.
• A network of like-minded professionals who value independence, not isolation.

We will meet you where you are and help you get where you want to go.

Breaking free from the restrictions of your current firm is a bold move, but it’s often the one that unlocks your full potential. When you’re no longer constrained by someone else’s agenda, you gain the space to build a practice that reflects your experience, your values and your commitment to doing what’s right for your clients.

Learn more about Ameritas.

Thrive with the independence to build your practice your way

If you’re ready to explore what true independence looks like, with the freedom and choices you need to serve your clients’ best interests, let’s talk. Your business is just that – yours. We’re here to support your success, not define it for you. Let’s talk.

Securities offered through affiliate Ameritas Investment Company, LLC, Member FINRA/SIPC. Financial planning and investment advisory services offered through affiliate Ameritas Advisory Services, LLC.

In financial services, success depends on more than technical knowledge or sales performance. Professionals who build long-term, sustainable careers often do so by engaging in continuous learning, building strong peer relationships and participating in structured development opportunities. These elements help financial professionals stay current, solve complex challenges and grow their practices with confidence.

While individual drive plays a key role, the environment in which a financial professional works can significantly influence their ability to develop and succeed. A firm that prioritizes education, collaboration and recognition creates a foundation where professionals can build meaningful, resilient careers.

Learning supports success

The financial industry is constantly evolving. Regulatory updates, economic shifts and changing client expectations require professionals to stay informed and adaptable. Without ongoing education, it’s easy to fall behind or miss opportunities to better serve clients.

Structured learning programs help professionals:

• Stay compliant with industry standards.
• Improve client service and communication.
• Expand into new markets or specialties.
• Build confidence in presenting strategies.

Workshops, webinars and on-demand content give financial professionals the flexibility to learn on their own schedule while applying new insights directly to their work. This ongoing learning helps them stay sharp, capable and ready to meet the demands of a changing industry.

For newer professionals, these resources can accelerate the learning curve. For those with more experience, they offer a way to refine skills, explore new strategies and stay competitive in a crowded marketplace.

Peer collaboration strengthens practices

Financial professionals often operate independently, but that doesn’t mean they should work in isolation. A strong peer network can be one of the most valuable resources in a professional’s career. It provides a space to exchange ideas, troubleshoot challenges and stay motivated.

Peer collaboration helps professionals:

• Share ideas and strategies.
• Work through complex client cases.
• Stay focused and accountable.
• Learn from others’ experiences.

When a firm supports study groups and informal mentoring, it creates opportunities for collaboration that helps lead to better client outcomes and more meaningful professional development. These relationships often extend beyond the workplace, becoming long-term connections that support both personal and professional growth.

In study groups, professionals can explore real-world scenarios, test ideas and gain feedback in a low-pressure environment. Mentorship, whether formal or informal, allows newer professionals to learn from those with more experience, while also giving seasoned professionals a chance to reflect on and refine their own practices.

Events that support learning and connection

Industry events are more than just networking opportunities. They provide focused learning, exposure to new ideas and a chance to connect with peers in meaningful ways. These events can re-energize professionals, introduce them to new tools and strategies, and help them feel part of a larger community.

Events that support professional development include:

• Annual conferences that bring together professionals to share insights.
• Product-specific forums that explore tools and strategies.
• Workshops that focus on niche markets, such as business owner planning.

These gatherings offer a break from day-to-day routines and create space for reflection, inspiration and growth. They also allow professionals to hear directly from peers and leaders in the field, gaining insights that can be applied immediately in their own practices.

Recognition encourages progress

Recognition programs can reinforce a culture of excellence and motivate professionals to continue developing. Celebrating achievements through events or awards helps:

• Acknowledge hard work and dedication.
• Encourage others to pursue similar goals.
• Build a sense of community and shared success.

Being recognized for the work you do on behalf of your firm can have a lasting impact on your career. It not only validates your efforts but also highlights your contributions to clients and colleagues. Recognition doesn’t have to be extravagant to be meaningful. Sometimes, a simple acknowledgment can go a long way in reinforcing a sense of purpose and pride.

Learn more about Ameritas.

Securities offered through affiliate Ameritas Investment Company, LLC, member FINRA/SIPC. Financial planning and investment advisory services offered through affiliate Ameritas Advisory Services, LLC.

In the world of financial services, change is inevitable. But some changes cut deeper than others. If you’ve recently found yourself grappling with the aftermath of your broker/dealer or RIA being acquired, merged or sold, you’re not alone facing this significant business disruption. These transitions can be jarring, leaving experienced professionals in a state of limbo, questioning not only the future of their business but the promises they’ve made to clients.

Let’s talk about what really happens and how to move forward with confidence.

More than just an announcement

The impact on your practice is more than operational. It’s emotional and reputational. You might experience:

• Client confusion: Clients start asking, “What does this mean for me?” and you’re left holding vague updates from a transition team.
• Uncertainty about service standards: Will service decline? Will it get slower? Will the new team understand your business?
• Loss of trust: It’s hard to tell clients you stand behind a company when that company no longer exists in the same form.
• Strategic setbacks: You may have spent years aligning your practice with their tools, training and marketing, only to have to start over.

These aren’t minor issues. They shake the foundation of your business.

A familiar story in a consolidating industry

In today’s market, these types of sales are not uncommon. Private equity interest, strategic consolidations and shifting corporate priorities are driving a wave of mergers and acquisitions. Unfortunately, these deals often benefit shareholders more than financial professionals and the clients they serve.

If you’ve been through this, you know the drill. Promises of “business as usual” may quickly give way to new rules, declining support for your business, new priorities and a lot of scrambling on your end to protect what you’ve built.

It doesn’t have to be that way.

Trust a company that’s built to last

What if you didn’t have to worry about the ground shifting under your feet? What if the Broker Dealer or RIA you work with had no shareholders to please, no appetite for out, and no private equity ownership or the planned future sales that come with that?

That’s the strength of working with Ameritas Investment Company, LLC and Ameritas Advisory Services, LLC

AIC and AAS are wholly owned by Ameritas Life Insurance Corp., a mutual-based company, which means it’s owned by its policyholders, not Wall Street. There’s no risk of it being sold off to the highest bidder. Its long-term commitments are to its clients and to the professionals who serve them.

Why AIC and AAS make sense for displaced financial professionals:

• Stability you can count on: Mutual means mission-first, not market-first.
• Support that understands your business: Built for professionals, not shareholders.
• Client-centric philosophy: The company’s decisions revolve around long-term client value, not quarterly earnings calls.

If you’ve felt the sting of a sale and the business disruption it brings, it may be time to explore a relationship that’s built to last, with the support of a team that can help you every step of the way.

Learn more about our investment advisory and brokerage services.

Securities offered through affiliate Ameritas Investment Company, LLC, Member FINRA/SIPC. Financial planning and investment advisory services offered through affiliate Ameritas Advisory Services, LLC.

The financial services marketplace is changing fast. Several dramatic shifts are happening simultaneously to create extraordinary opportunities over the next 15 to 20 years for financial professionals. But if you don’t have a succession planning strategy for these changes in advance, your financial services business that you’ve spent decades building and growing may suffer. Are you and your business ready?

Ameritas is proud to say we’re here to help. After more than 138 years in the business, we know a few things about planning for a strong future no matter what economic conditions prevail.

Here’s what you need to know.

A critical transformation in our client base

Perhaps one of the biggest developments we’re watching is what the industry refers to as “peak 65.” Approximately 4.1 million Americans will turn 65 every year through 2027.¹ At the same time, we’re also experiencing one of the biggest wealth transfers in history, with baby boomers transitioning about $84 trillion in wealth to younger generations over the next 20 years.²

Even as we face this transition of wealth, the number of financial professionals in our industry is decreasing. This can create tremendous opportunities to not only grow your business, but also for you to bring new agents in to take over your business in the years to come.

To leverage these opportunities effectively, you need to have a succession plan in place.

Ameritas can help. Our practice management and advanced planning teams can help you transition your business to future generations effectively. We have the tools to help you be successful today—and tomorrow.

Why it’s time for you to consider succession planning

One of the benefits of working in the financial services industry is that we don’t have a mandatory retirement age—you get to choose when you want to retire. Within our financial professional base, we typically see owners consider selling their businesses when they reach their mid 50s or early 60s. Accordingly, we often counsel our financial professionals to begin putting a succession plan in place in their 40s and early 50s.

No matter what your current age or your timeline for a sale or business transition, you should start planning several years in advance. If you’re looking at selling the business, it takes time to create a list of items you need to prepare, find ways to market the business, and ensure that the business is in proper order to transition to the next generation of financial professionals. This could involve technology systems, client profiles and more.

Even if you expect to shift your business to the next generation of your family, there are still many elements to consider that will help ensure your firm continues to thrive.

How does Ameritas help with succession planning?

At Ameritas, we have advanced planning and practice management teams that work closely with our regional vice presidents (RVP) to help you evaluate the value and makeup of your business. Our RVPs are very active in the field and aware of what is going on within their regions, our company and the industry. They can help you find potential buyers who may be able to take over your business or start working with you to transition it to the next generation.

It’s an exciting time and a great opportunity, but it’s also a little scary and you need to be prepared for it. You owe it to yourself and your clients to walk through this transition with an industry expert supporting you every step of the way.

Opportunities for new financial professionals

For newcomers considering a career as a financial professional, there is tremendous opportunity. We’ve experienced a dwindling agent population in our industry for the last 30 years, while many of our financial professionals are now reaching retirement age.

According to a U.S. Bureau of Labor Statistics (BLS) report shared by The America Works Report, the number of insurance professionals aged 55 and older increased 74% from 2010-2020. This finding led the BLS to estimate that over the years 2020-2035, 50% of the current insurance workforce will retire, leaving more than 400,000 open positions unfilled. All facets of the insurance industry will struggle to replace these workers at every level, particularly because millennials have not shown significant interest in insurance careers – less than 25% of the industry is under 35.

On the investment side, we’ve seen an uptick, but the numbers are still modest for a population that has grown from about 150 million to 350 million in the last 30 years. Accordingly, we expect the demand for wealth management products and services to increase substantially in the years to come.

It’s time to work on your business…not just in it

As a financial professional, you’re the heart of your business, running it day in and day out. While you work tirelessly to help ensure your clients’ financial well-being and success, it’s equally important to ensure that your own business receives the support it needs to thrive.

Whether you want to safeguard your business against an unexpected event or an accelerated retirement timetable, or simply to provide a smooth runway to a successful sale, the right support system can make all the difference. With Ameritas, you’ll have the expertise and resources you need to help position your business for a prosperous future.

To learn more about succession planning at Ameritas, you can download our Succession Planning Guide or contact our practice management team for personal assistance.

Jeff Graves
Senior Vice President, Agency and Field Distribution, Ameritas

If you’ve grown up as the child of a financial professional—whether your parent is a life insurance agent, tax expert, financial planner or all the above—chances are good that you’ve at least considered joining the family firm. You may have gone to industry or company events, watched your parents meet with their clients, and even worked summer jobs answering phones or providing office support.

But is a career in financial services right for you—especially as a second-generation financial professional? As some of the industry’s most successful young professionals will tell you: absolutely yes.

Ameritas is proud to work with over 65 next-generation family financial professionals. These individuals are helping to grow their family business and provide support to clients for generations to come. This article shares the experiences of four of those financial professionals.

Why choose financial services?

A career in financial services can mean many things. You might work with individual clients or businesses. You might focus on one financial product or many. No matter what approach you choose, it’s a career in which you can set your own course.

That kind of flexibility is exactly why it’s been such a powerful choice for Vance Wentz, Tax Favored Benefits—and a third-generation financial professional.

“One of the things I love about our firm and really the industry as a whole—and one of the reasons I got my CFP—is that you can pursue many different paths,” explains Vance. “Whether it’s retirement plans or risk management, or gathering assets and being a wealth manager, the opportunities are endless. It’s a fantastic business to learn many different skills.”

In addition to flexibility and choice, financial services also drew Vance because of the focus on people.

“I like to have every day be a little bit different, so I knew that being in an industry that allowed me to help people in a number of different ways was important to me,” Vance explains. “I played a lot of athletics growing you up, so I’m very goal oriented. This type of career is ideal for that mentality, but I think getting to work with and help people was what really drew me to the industry.”

Zachary Allen, United Professional Advisors, LLC, agrees. “Growing up, I could see firsthand how hard my father worked, and how important his work was to him,” Zach explains. “I also saw how he was able to make his own schedule. He never missed a game I played in, never missed the things that were important to him. Beyond that, I could see how much his clients trusted him. It came through in every conversation he had.”

Earning that level of trust was so important, Zach decided on financial services as a profession at an early age.

“When I was 12 years old, we had a project in school where we were asked to write what we wanted to be when we grew up,” said Zach. “My answer? A financial professional. Being able to help your clients feel good about their financial future is an incredible feeling. The moment I began officially working in the business, I knew I wanted this to be my life’s work.”

The unique paths to following in your family’s footsteps

Not every second-generation professional finds themselves working for the family firm in the same way, however. For Laura Fazzini, Premier Planning, having her father’s encouragement from an early age made joining the family practice a top possibility—but she took her time deciding.

“My father and I have always been very close, and we work together well,” said Laura. “Growing up, he would tell me, ‘You’d be great at the business. I think you should come work with me.’ When I was in college, however, I took on an internship at a company he didn’t represent, Northwestern Mutual. He did a great job of allowing me to find my way and really see if this career was right for me. About halfway through the internship, I knew this was the career path I wanted to take. After that, I majored in personal financial planning and learned as much as I could before eventually joining the family firm.”

Samantha Robbins, Zach’s sister and now a financial professional focused on small businesses at United Professional Advisors, chose a different path.

“Even though I expected I’d eventually come back to the business, I wanted to experience some outside career pursuits first,” Sam explains. “After I graduated college, I went into media sales. For the five years prior to joining my dad’s practice, I was the sales manager at a local TV news station. That work allowed me to bring a different perspective to the firm, as well as a lot of relationships with business owners in the area. Those relationships were extremely helpful during my first year in financial services.”

Continuing—and enhancing—the family tradition

While it can be a challenge to find your footing as a second-generation financial professional, it’s also an opportunity to help keep your family practice up to date with changes in technology, business sectors and even communication styles.

“Working with my father and grandfather and learning from them has been an incredible experience,” says Vance. “But what I’ve observed is that—whether it’s my dad or my grandfather or other people across the industry who are successful, the best people are always trying to pick up new skills and abilities. You need to pivot with changes and be open to new ideas, especially in this industry which can change so quickly.”

Sam agrees. “You’ll never want to exactly follow in anyone’s footsteps. There are always new products and new ways of connecting with clients. Figuring out your own way is part of what makes this career challenging, but incredibly rewarding as well.”

A community of guidance and mutual support

Best of all, the financial services industry is well known for the support it offers to new and emerging financial professionals. In 2021, Ameritas launched the Ameritas Growth Leaders program, an exclusive study group for the next generation of financial service industry leaders.

“There are so many things that Ameritas has done to help facilitate success for younger people, or professionals who are new to the industry,” explains Vance. “With this mastermind group, we get together about once a month to share sales ideas, work through challenges or just become better friends. We’re all in different locations, so nobody’s competing, and there’s been a lot of joint work throughout the group. It’s been an excellent experience all around.”

Curious about what Ameritas has to offer second-generation financial professionals? From onsite internships to comprehensive agent support, you can count on us for the long term. See how Ameritas supports all kinds of industry professionals.

Tax Favored Benefits, Premier Planning and United Professional Advisors, LLC are not affiliates of Ameritas or any of its affiliates.

As an insurance agent, wealth manager or retirement planner, you probably spend most of your days ensuring the financial security of your clients. That security becomes doubly important when your client is a small business owner. But have you spent the same amount of time and attention ensuring the security of your own business?

Whether you are the head of a small family business or the principal of a large practice, succession planning for financial professionals matters. And the sooner you get started creating your own succession plan, the better.

“Succession planning is one of the most critical processes producers can undertake to ensure the value of their business,” explained Beth Goldsmith, second vice president, practice management and development. “If you don’t have a plan in place, it can make an incredible impact on the value of your business. At Ameritas, we want to help ensure that our producers’ business—and families—remain secure. To do that, we’ve dedicated a significant focus of our practice management team to this process.”

What does succession planning mean?

Succession planning is the process of ensuring that your practice will continue with minimal interruption after you leave the business. It involves identifying the key employee or employees who can step into a leadership role once you’ve left, so that your practice can continue to thrive.

“In most small businesses, we can point to one or two leaders who are really dictating the future of that business,” Beth said. “But what happens if there is no designated employee who can take over, when you’re ready to retire or exit the business? It creates chaos—for your business, for your family and for your clients. That’s true for any small business, but it’s especially true for financial services practices, because of the number of lives they support and the families and clients entrusted to their care.”

Without an effective succession plan in place, there may be a gap in leadership. This can lead to a loss of clients, revenue and even employees. In addition, the instability can significantly impact the valuation of the company.

According to the Succession Resource Group, an expert in helping advisors with valuation and succession planning, insurance practices without a succession plan can lose anywhere from 10% to 30% of their business value if forced into an emergency sale.  (successionresource.com)

In short, succession planning for financial professionals is an essential part of ensuring the long-term success and stability of your practice. It will help you find and develop future leaders, recruit and keep high-level employees and prepare for unexpected events.

How do you get started?

To begin the succession planning process, first consider what type of business you lead. For family run insurance practices, it can be a little more straightforward to identify the candidate to take over. “At Ameritas, we’re very invested in the concept of legacy,” Beth said. “We have a lot of agencies where that legacy is identified as part of the family – someone who has grown up watching their parent go to Leaders Conference every year and has possibly even gone with them.  We have multiple second, third and even fourth generation agents, and we have seen first-hand the strength of their business.”

If your insurance practice is not family owned, and you don’t have an obvious successor to share in building and continuing the business, it becomes more difficult. This is where the Ameritas practice management team can step in. “We are most proud of when we’ve been able to help and support people not only with identifying outside talent who can help keep the continuity and strength of the business, but also recognizing talent inside their organization who can be nurtured and supported as they prepare for that top role,” Beth said.

Key steps for an effective succession plan

The practice management team at Ameritas has developed a complete support system for succession and continuity planning, including checklists, templated forms, sample agreements and third parties to help producers through this critical process. These steps form the backbone of most effective succession plans:

• Identify key employees: Which employees in your firm have the potential to take on leadership roles in the future? These are individuals who have the skills, experience, drive and commitment to company culture to lead the company.
• Develop a plan for development: Once these key employees have been identified, it’s important to develop a plan to ensure they’re ready to take on a leadership role. This may involve providing training, mentoring, leadership development and other opportunities for growth within your practice.
• Create a timeline: Succession planning isn’t a one and done process, and it’s important to create a timeline. This can involve setting goals for development, identifying key milestones and creating a timeline for the transition of leadership.
• Communicate with your employees—and your clients: While it can be challenging to introduce the idea of change to your employees and clients, it’s critical to the success of your plan.
• Review and update regularly: Succession planning shouldn’t be a one-time event. Expect to review and update your plan regularly. This will ensure that it still is relevant and effective, especially during times of dramatic change.

A personal approach to helping you manage your business

Whether you have questions, need additional guidance, or simply want to talk with other producers who have gone through this process, the Ameritas practice management team is ready to serve.

“So many of our agent partners work selflessly all day long to take care of the lives of their clients,” Beth said. “It’s a big responsibility to take time to work on their own business. That’s why at Ameritas, we’re here to help you work on your business, not just in it.”

To facilitate succession planning in 2023, Ameritas has identified a core group of producers and broker dealers to ensure that they have succession and continuity plans in place that are right for their business. “It’s a major initiative for us,” Beth explained. “We have field members who have been through the planning process with us that are sharing the word, helping to shine a light on this. Their stories are remarkable, and we look forward to sharing them with all our producer partners. Knowing that your business is safe, and that your future is taken care of, is an incredible asset for any business. It’s very powerful.”

To learn more about succession planning, you can download our Succession Planning Guide or contact our practice management team for personal assistance.