103 - KEITH BUTTEN - Succession Planning Done Right

Financial planning professionals explore strategies for multi-generational wealth management, emphasizing that fairness in family gifting does not necessitate equal distribution. The discussion highlights the administrative and tax complexities of pension consolidation, particularly regarding inheritance tax and the lack of loss relief for pension funds compared to property. The conversation shifts to the practicalities of business succession, specifically the transition to employee ownership trusts (EOTs). Unlike management buyouts, EOTs foster long-term cultural stability and collective profit-sharing, though they require significant time horizons for full realization. Additionally, the panel addresses the optimal number of client relationships for an advisor, concluding that while technology and support staff can increase capacity, maintaining deep, meaningful financial planning relationships remains limited to approximately 150 households.