Anatomy of an RIA succession plan

Rick Buoncore, executive chairman of MAI Capital Management, recently did what fewer than 30 percent of RIAs have done: created a formal, written succession plan co-signed by successors who are ready and willing to take over the $30 billion (AUM) organization. Meanwhile, the 68-year-old Buoncore, who has no intention of retiring, explains how the new succession plan addresses client priorities and his own professional goal. (10/2024)