Total Succession

Tyson Ray
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So you've built a business helping others plan their future. But what's the plan for yours? Your future deserves the same attention you give your clients every day. It's time to protect what you've built and prepare for what's next. Welcome to the Total Succession Show, your resource for learning how to exit confidently, be fully compensated, and keep your clients' interests first. Hosted by veteran financial advisor Tyson Ray and co-host Kim Cochenour, each episode will help you navigate the emotional and strategic challenges of succession planning through real-life stories, insights from industry experts, and Tyson's SPACE framework: See, Prepare, Act, Commit, Exit. Tune in each week and head to totalsuccession.com for free tools to help you start preparing for what's next.

  1. The Succession Planning Crunch: Attrition Is Not a Strategy (Here’s What Is)

    5D AGO

    The Succession Planning Crunch: Attrition Is Not a Strategy (Here’s What Is)

    A huge number of advisors are approaching retirement, but the next generation isn't entering the profession fast enough to replace them. If that wasn’t enough, many founders don't have succession planning in place. Tyson Ray and Kim Cochenour address the “succession planning crunch” with insights from Jackie Wilke, Duncan MacPherson, and Scott Danner. You'll discover why succession planning is about client continuity, not you, and why attrition isn't a strategy. Kim Cochenour kicks things off by highlighting a growing tension in the advisor industry: A huge number of advisors are approaching retirement, but the next generation is not entering the profession fast enough to replace them.This episode of The Total Succession Show features guest insights on what happens when advisors retire faster than they’re replaced – and what firms can do now to prepare for that shift.According to JD Power, an estimated 37 to 46% of advisors plan to retire in the next 10 years.First Trust’s Jackie Wilke highlights that many of them DON’T have a succession plan in place.At the end of the day, succession planning is about the client, says Jackie.The point of having a succession plan is continuity for your clients and continuity for the people that matter most to them.Tyson Ray touches upon the fact that advisors keep seeking out Gen 2 to be the rainmaker without realizing that, at some point, the team needs caretakers for their clients.Remember: what has gotten you here won’t necessarily take you there – the rainmaker model of the past requires a different approach now.Duncan MacPherson discusses how, the more technology creeps into our lives, the more the human touch matters. As many advisors go all in just with technology, the human touch becomes an unmet need.Scott Danner talks about the role that finding the right partners, growing and building together, leads to actually living a legacy… not just leaving one.He also illustrates how many advisors see attrition as their actual succession plan.In Scott’s business, the #1 group reaching out because they’re trying to live their legacy are 45 to 60-year-old advisors – they’ve been in business 20+ years and are tired of doing things the same way.Scott adds the “doing trap” into the conversation.Tyson breaks down the S.P.A.C.E. framework, while Scott shares the steps advisors should follow to prepare themselves for succession.Kim stresses that the advisors who are succeeding through this succession crunch will be the ones building businesses, developing their people, and creating continuity for their clients long before their day comes. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First Jackie Wilke on LinkedIn First Trust JD Power Duncan MacPherson Scott W. Danner Steward Partners Freedom Street Partners Genius Network Dan Sullivan Benjamin Hardy Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork by Dan Sullivan and Benjamin Hardy

    16 min
  2. The Branding Question That Defines Succession Planning with Mike Saunders

    APR 7

    The Branding Question That Defines Succession Planning with Mike Saunders

    When buyers evaluated Tyson Ray's practice in 2024, they asked one question: "What happens to client trust if you're not there?" That's where branding and succession planning often collide. Tyson and Kim Cochenour sit down with marketing expert Mike Saunders to explore how brand equity determines your exit value and why your brand drives your succession planning decisions. You'll discover the positioning mistakes that create founder dependency and how to build a brand that transfers client trust beyond the founder. Tyson Ray and Kim Cochenour sit down with marketing expert and author Mike Saunders to discuss the importance of brand equity for advisors and the role it plays in succession planning.In 2024, Tyson was in real conversations about selling his practice. When it comes to branding, buyers really asked one question: “What happens to a client’s trust if you’re not there?”In other words, the focus of the investors was on evaluating founder dependency. Tyson touches upon the fact that realizing how important your brand is will drive some of the decisions on what, who, and how you do a succession.Mike brings up the concept of positioning – what you’re known as, what your prospect thinks of you as – and the importance of articulating your solution in your messaging.Tyson shares his thoughts on branding and marketing within his firm, and how it has contributed to its growth.“The biggest mistake you make as an advisor is not getting advice," says Tyson.In his experience working with the financial services industry, Mike has identified seeing marketing as an expense and not doing it consistently are two of the big traps advisors fall into. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson’s book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First MikeSaunders360.com Mike Saunder’s books on Amazon JPMorgan Chase

    14 min
  3. The New Succession Planning Playbook: More Options Than Ever (If You Start Early)

    MAR 31

    The New Succession Planning Playbook: More Options Than Ever (If You Start Early)

    Advisors have more options than ever when it comes to succession planning, but those options only work when you start early and bring the right people into the conversation. Kim Cochenour shares insights from various industry experts to help ensure your exit isn't rushed, reactive, or forced. You'll hear why modern "rainmakers" focus on serving rather than selling, and why being methodical about your own succession planning makes you more attractive to clients with their own continuity and legacy concerns. In this episode, Kim Cochenour shares insights from a few conversations with the goal of helping you understand what needs to be done so that your exit isn't rushed, reactive, or forced. Aaron Hassler points out that both buyer and seller want their transaction to be accretive to their businesses. That's why educating yourself and having conversations with different people can help you understand what succession plan best fits you and your clients. "Advisors have more options than ever when it comes to succession," stresses Kim. However, those options only work when you start planning early and bring the right people into the conversation. Jackie Wilke explains why the concept of "rainmaker" needs to be redefined in today's financial advisor industry. "There's a way to reposition the rainmaker as business development. You're growing, not because you're selling something, because you're serving someone," she says. Tyson refers to modern rainmakers as "relationship managers," which are different from what was depicted in Hollywood movies in the '80s and '90s. Duncan MacPherson describes the progression the best firms go through. Remember: The financial professional who is methodical about their own continuity and succession plan becomes even more attractive to clients who have their own continuity, succession plan, and family investment legacy. Kim stresses that the industry is changing: advisors are retiring, and the next generation is approaching the profession very differently. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson's book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First Aaron Hassler Spruce Rock Capital Jackie Wilke on LinkedIn First Trust Duncan MacPherson

    13 min
  4. Succession in the Age of RIA Consolidation: What Advisors Need to Know Before Selling with Chuck Failla

    MAR 24

    Succession in the Age of RIA Consolidation: What Advisors Need to Know Before Selling with Chuck Failla

    In the era of industry consolidation, many advisors have turned their firms into a "joyful prison," and succession planning is the key to breaking free on your own terms. Tyson Ray and Kim Cochenour sit down with Charles "Chuck" Failla to explore why taking a private equity check means trading 30 years of hard work for a boss, and what advisors need to consider before signing with a mega RIA. You'll discover why succession planning can be what you want it to be, unless you wait too long — then it gets dictated to you. Tyson Ray and Kim Cochenour explore the topic of succession in the era of consolidation with guest Chuck Failla. Failla kicks things off by sharing more about how he got started in the business, how Sovereign Financial Group came to be, and their approach to growth. For Failla, the current state of the industry will lead to the creation of a "breakaway" breakaway movement. Tyson explains why many advisors refer to their firm as their "joyful prison." "I did not work this hard for 30 years to now have a boss, that makes no sense", says Chuck. "However, if you take that private equity check, you now have a boss…" Remember: the private equity folks will not sign a contract unless it's absolutely tilted toward them. Chuck touches upon how Sovereign Financial helps advisors see things from a different perspective. There are things to consider before a founder signs a letter of intent with a "megapolis" RIA – Chuck shares more about that. Tyson believes that "The joy of being an entrepreneur is the freedom to delegate and elevate yourself, let other people step into their unique abilities." Never forget that "succession can be what you want it to be unless you wait too long… then, it's going to get dictated to you," stresses Tyson. Tyson is an advocate for exploring different options as a founder. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson's book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First Chuck Failla Chuck Failla on LinkedIn Sovereign Financial Group Wolf of Wall Street Raymond James AdvisorAssist Chuck Failla's goRIA podcast Investment News

    25 min
  5. Succession Planning and Legacy: What Will Your Clients Say When You're Done?

    MAR 17

    Succession Planning and Legacy: What Will Your Clients Say When You're Done?

    You might be really successful, but if you have success without succession planning... you're failing. Tyson Ray and Kim Cochenour reveal why thinking about legacy is essential for advisors at every stage, how your legacy lives within your firm's culture and team, and the critical question to ask yourself: "What will people say about me when I'm done?" You'll discover why starting your journey with the exit leads to regret and why your practice might be your life's work, but your legacy gets to be bigger than that. In this episode, Tyson Ray and Kim Cochenour look at how advisors should want to be remembered. Tyson explains why he believes that thinking about legacy is key for all advisors, especially those starting out. "You might be really successful, but if you have success without succession… you're failing," says Tyson. For Kim, the legacy you're trying to build lives within the home of your firm, it shows up in team culture. Tyson touches upon a key question every advisor should ask themselves – and that affects them, their team, and clients. Tyson opens up about an exercise he uses for planning and for having planning-related conversations with his family. Want to design your legacy with intention? Ask yourself, "When I'm done, what are my clients and people I love going to say about it?" Tyson believes that advisors are too late only if they believe that that's a reality for an outcome they can still change. When it comes to the S.P.A.C.E. framework, for Kim, many advisors avoid the Seeing part because it's the hardest step for them to take. Did your journey start with the exit? Beware, because there's a very high likelihood that you're going to regret how you exited. "Your practice might be your life's work, but your legacy gets to be bigger than that," stresses Kim. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson's book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First Nick Murray

    15 min
  6. Founder Dependence: The Biggest Obstacle to Your Succession Plan (and How to Fix It), with Ivan and Mariana Polic

    MAR 10

    Founder Dependence: The Biggest Obstacle to Your Succession Plan (and How to Fix It), with Ivan and Mariana Polic

    Founder dependence is often the largest obstacle to a successful succession plan, costing you your health, family time, and growth opportunities… but it doesn't have to be this way! In this episode, Kim Cochenour sits down with Mariana and Ivan Polic, a husband-and-wife team who took over a highly technical, founder-led business, eliminated founder dependence and sold it to a private equity firm in a stunning six-day transition. They talk about the three major shifts they focus on and what it takes to plan a succession that leaves everyone incredibly satisfied. Kim Cochenour is joined by Mariana and Ivan Polic to explore a topic that is often one of the largest obstacles to a successful succession plan: Founder dependence. Mariana and Ivan are a husband-and-wife team who took over a highly technical, founder-led business, grew it so much that it caught the eye of a private equity firm and sold it – all in a stunning six-day transition. Ivan goes over the beginnings of his and Mariana's personal and professional relationship, including growing a successful business only to have 97% of revenue getting lost over a month in 2008… Following the advice of some business advisors Ivan and Mariana were forced to cut 75% of their staff in order to get nine months of survival for the business. Mariana's and Ivan's six-day exit was the result of 13 years of hard work. Kim points out that the advisory space is seeing a transition from father/mother to the next generation – which means that there isn't just a financial dynamic, but a relational one as well. The turning point for Ivan and Mariana was asking Ivan's father about the most critical things, what should have stayed solid no matter what. Ivan and Kim talk about Mariana's role and how she managed to get their team to have 80% of women as key members. Kim highlights a current industry shift that seems more and more advising firms go from predominantly men-only to firms that feature women in key positions. In their book Shift Intelligence, Mariana and Ivan outline three major industry shifts: Organizational, marketplace, and inner world. Mariana and Ivan make the case for starting with the organizational side of things first. When it comes to the organization shift, Mariana's and Ivan's approach focuses on the team, the system, communication, responsibility, authority and trust transfer inside a firm. The marketplace shift has to do with the move from client trust to founder trust into the business. Mariana believes that the biggest bottleneck as far as the marketplace shift is concerned is the founder thinking they are the brand. Ivan and Mariana share a client story that speaks to the emotional patterns founders struggle with – and that are part of the third shift, inner world. For Ivan, founder dependence is the biggest and most painful problem in business because it costs you your health, family time, lack of growth and opportunities. Many founders think they have stepped back… only to have reality speak for itself and show a completely different situation. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson's book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First ShiftIntelligence.co Ivan Polic (ivan@shiftintelligence.co) Mariana Polic (mariana@shiftintelligence.co) Shift Intelligence: End Founder Dependence and Build a Business That Stands on Its Own by Ivan and Mariana Polic Boeing Independence Diagnostic™ Scorecard

    42 min
  7. Succession Planning vs. Industry Consolidation: Why Waiting Means Fewer Options

    MAR 3

    Succession Planning vs. Industry Consolidation: Why Waiting Means Fewer Options

    Industry consolidation is unlike anything we've seen before, and if you're not watching closely, your succession planning won't matter because you'll get caught in the chaos. Tyson Ray and Kim Cochenour reveal why the longer you wait for succession planning, the fewer options you have, and how consolidation is eroding advisors' negotiating power and their understanding of what their practice is actually worth. You'll hear more about the common misconceptions founders have about what aggregators look for, when the value of your firm actually increases, and how solo advisors will lose clients to AI-powered teams if they don't act now. This episode starts with a warning from Kim Cochenour: "Consolidation is unlike anything we've seen in the industry. If you're not watching closely, your planning is not going to matter because you'll get caught afloat in this mess." Tyson Ray touches upon the different approaches founders may have: Not paying attention to the industry because they're too busy, some who are exploring their succession planning options, and others who have thought about it but are yet to act. Ask yourself whether you have done the things that are needed in regards to your succession. Remember: the longer you wait for succession, the more important it is… but the less options you end up having. Tyson believes that, as the industry grows, those who are running the show on their own will lose clients to firms that rely on teams using AI. Tyson and Kim discuss whether advisors are losing their negotiating power because of industry consolidation. Kim points out that advisors are losing out on the idea of what their practice is actually worth because they can't quantify what that actually means. Many founders have misconceptions regarding what aggregators and integrators actually look for – Tyson shares the most common ones. Did you know that some advisors think that they are where the value sits? They are wrong, says Tyson, because the value of a firm increases as the owner's responsibilities decrease. Tyson and Kim go over what it looks like, to a client, when they deal with a better prepared firm. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson's book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First

    14 min
  8. Succession Planning Strategy Shift: From Dictating Direction to Co-Creating the Future with Bridget Venus Grimes and Marnie Bonner

    FEB 24

    Succession Planning Strategy Shift: From Dictating Direction to Co-Creating the Future with Bridget Venus Grimes and Marnie Bonner

    Succession planning doesn't start with finding a successor… It starts with defining your vision and inviting your G2 to co-create the future of your firm. The mother-daughter duo of Bridget Venus Grimes and Marnie Bonner of WealthChoice reveal why soliciting feedback from next-generation advisors is non-negotiable for success and how coaching facilitated their transition. You'll discover the biggest challenges founders face when searching for G2 talent, why more conversations about succession would prevent fire sales, and what it looks like when your clients prefer your successor as their primary contact. This episode kicks off with Bridget Venus Grimes opening up about when succession planning started to become real, while Marnie Bonner touches upon how she ended up at WealthChoice after being in the tech industry. Bridget doesn't believe that any succession will be successful if you bring a G2 in and you say, "This is the vision for the firm, and this is what we're going to do." Soliciting their feedback and incorporating their vision and passion is key. Bridget, Marnie, and Kim talk about the benefits of coaching – including how coaching helps them invite Marnie into the business and start with succession planning. You understand that you're doing a good job when, like Bridget, you've been working with a client for 15+ years, but they see your G2 (Marnie in this case) as their preferred point of contact. For Marnie, being a G2 can be stressful – she shares the challenges that come with that. Bridget brings the role of founders' identity and the disservice that's being made to their clients into the conversation. Getting your succession planning in motion doesn't mean that you need to find a successor now, but at least you can start to think about what your vision for your firm and clients is. More succession planning conversations would help founders and would generate fewer fire sales. Kim highlights that even advisors in their 50s or 60s still have plenty of time to dive into succession planning and avoid being overwhelmed by life catastrophic events. Bridget shares her thoughts on being part of the community and how that can help your search for G2 advisors. "One of the biggest challenges for folks like me is finding a successor", she emphasizes. Despite having a background in health management and non-profit work, Kim was able to enter the financial advising industry – she explains how that happened and why both founders and G2 advisors should keep a similar scenario in mind. Marnie and Bridget open up about the 10-year goals for WealthChoice. Mentioned in This Episode: TotalSuccession.com TotalSuccession.com/podcast FORM Wealth Advisors Tyson Ray Kim Cochenour Tyson's book - Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients' Interests First Bridget Venus Grimes Marnie Bonner WealthChoice NAPFA: The National Association of Personal Finance Advisors Ellevate Advisors Brooklyn Brock

    50 min
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About

So you've built a business helping others plan their future. But what's the plan for yours? Your future deserves the same attention you give your clients every day. It's time to protect what you've built and prepare for what's next. Welcome to the Total Succession Show, your resource for learning how to exit confidently, be fully compensated, and keep your clients' interests first. Hosted by veteran financial advisor Tyson Ray and co-host Kim Cochenour, each episode will help you navigate the emotional and strategic challenges of succession planning through real-life stories, insights from industry experts, and Tyson's SPACE framework: See, Prepare, Act, Commit, Exit. Tune in each week and head to totalsuccession.com for free tools to help you start preparing for what's next.

Information

  • Creator
    Tyson Ray
  • Years Active
    2025 - 2026
  • Episodes
    50
  • Rating
    Clean
  • Copyright
    © 2025
  • Show Website
    Total Succession

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