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. 9h ago

    Financial Advisor Succession: Build Your Next-Gen Bench Before You Need It (with Jackie Wilke)

    Succession planning is changing. Advisors have more buyers, more enterprise support, and more ways to structure a transition than they did a few years ago—but more options do not automatically create a better outcome. In this episode, Jackie Wilke joins Tyson Ray and Kim Cochenour to discuss what she is seeing across the advisor industry and why the best succession plans start long before a retirement date is fixed. The conversation moves beyond valuation. Jackie explains why cultural fit, client continuity, shared values, and the future leader’s working style matter just as much as the headline number. Developing a successor also means giving next-generation professionals the tools and authority to contribute now: involving them in decisions, listening to their perspective on technology and AI, and building a career path that can eventually include ownership. Whether that path involves internal buy-in, sweat equity, enterprise matching, or another structure, the core advantage is time. Life events and retirement plans can change faster than expected. Building the bench early gives advisors more choices, gives future leaders a reason to stay, and gives clients a smoother transition when succession becomes real. KEY TOPICS • Why succession planning is becoming more proactive • Unexpected life events that compress transition timelines • How enterprises are getting more involved in advisor succession • Programs connecting retiring advisors with next-generation professionals • Why more offers and options do not eliminate the need for fit • Looking beyond valuation to culture, clients, and values • The ROI of developing next-generation talent early • What next-generation professionals want to be part of • Hard skills, soft skills, and qualitative fit • Involving future leaders in decisions about AI and technology • Creating ownership paths through buy-in, sweat equity, or financing • Avoiding the scramble when retirement happens sooner than planned 00:00 — Succession Is More Than a Transaction 01:20 — What’s Changing in the Succession Conversation 03:30 — The Triggers That Make Planning Urgent 06:10 — Enterprises Step Into the Succession Gap 09:00 — More Options—and the Need for a Runway 11:55 — Why the Highest Number Isn’t Always the Best Fit 15:00 — What the Next Generation Wants to Join 16:30 — Hard Skills, Soft Skills, and a Different Way of Working 19:30 — Empower Future Leaders Before the Transition 20:25 — AI, Technology, and the Value of Next-Gen Perspective 23:40 — Retaining Future Leaders 24:10 — Ownership Paths: Buy-In, Sweat Equity, and Values 25:30 — Culture Is Part of the Succession Plan 27:00 — What If You Retire Earlier Than Expected? Identify one future leader and give them one meaningful decision, one client-facing responsibility, and one ownership-path conversation this quarter. Then test your succession options before urgency chooses for you. Links Mentioned in Today’s Episode TotalSuccession.com TotalSuccession.com/Podcast Tyson Ray Tyson’s book Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First Kim Cochenour

    Financial Advisor Succession: Build Your Next-Gen Bench Before You Need It (with Jackie Wilke)

  2. Sep 1

    Emily Stubbs And The Enterprise Value Gap ICYMI

    A profitable business is not automatically a sale-ready business. In this episode, Emily Stubbs explains how buyers evaluate risk, transferability, cash-flow quality, and owner dependence—and why cleaning up those issues early can create better operations, stronger financial visibility, and more leverage before a deal is ever on the table. Owners experience a business through years of sacrifice, growth, payroll pressure, and personal effort. Buyers see something different: risk. Emily explains the gap between a business that serves clients and supports its owner and one that can withstand scrutiny from a buyer, lender, or investor. A sale-ready business needs credible financials, defensible add-backs, a clear growth story, reduced owner dependence, proper legal structure, reliable contracts, and fewer unresolved issues. Using the analogy of preparing a house for sale, Emily shows why de-risking often makes the business more enjoyable and valuable to own right now. Cleaner financials and outside expertise can improve decision-making, reveal where money can be reinvested, and remove surprises before a buyer discovers them. The lesson is simple: do the work ahead of time with a sell-side perspective so you preserve more leverage, more options, and more control over your eventual exit. • The owner’s perspective versus the buyer’s perspective • Buyer risk and business transferability • Cash-flow quality and durable results • Good businesses versus sale-ready businesses • Deal-grade financials and defensible add-backs • Reducing owner dependence • Legal structure, contracts, and documentation • De-risking before going to market • The home-sale analogy for exit preparation • CFO visibility and smarter reinvestment decisions • The role of a sell-side advisor • Preparing early for leverage, options, and control 00:00 — Why Owners and Buyers See Different Businesses 00:54 — Good Business vs. Sale-Ready Business 01:40 — What De-Risking Really Means 01:59 — The Home-Sale Analogy 02:29 — Running the Business Through a Buyer’s Lens 03:14 — Clean Up the Skeletons Before the Buyer Does 03:28 — Prepare Early for More Leverage Links Mentioned in Today’s Episode TotalSuccession.com TotalSuccession.com/Podcast Tyson Ray Tyson’s book Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First Kim Cochenour Emily Stubbs Visibility CFO Book a 30-minute call with Emily and the Visibility CFO team

    Emily Stubbs And The Enterprise Value Gap ICYMI

  3. Aug 25

    The Enterprise Value Gap: Why Succession Planning Fails Without De-Risking (with Emily Stubbs)

    When it comes to succession, owners and buyers see enterprise value completely differently. Emily Stubbs of Visibility CFO joins Kim Cochenour to reveal what buyers actually look at first, why a good business isn't necessarily sale-ready, and the de-risking steps that protect your enterprise value. You'll discover why solving owner dependence five years early gives you more leverage, options, and control over your exit. Emily Stubbs sets the stage for the conversation about succession and enterprise value by sharing more about what Visibility CFO is all about.Kim stresses that, when it comes to succession, owners and buyers tend to see value differently from one another.Owners tend to see the years of sacrifice, effort and growth, whereas buyers see risk, transferability, and cash flow quality.Emily touches upon what a buyer first looks at when trying to understand a company's enterprise value – this is something owners often don't see.Many owners have the misconception that strong revenue, or strong revenue potential, creates a strong enterprise value and a high price when you sell.A good business isn’t necessarily a business ready for sale. Emily explains the difference between the two.Emily and Kim talk about what owners should focus on to do their due diligence when it comes to aligning with a potential buyer.De-risking is all about identifying the issues that would cause a buyer to lower the price or slow down the process.Selling a business is like selling a house: you finally find yourself doing things you have been putting off for years!Emily and Kim look at what owners can do today to minimize the risk of surprises when starting the process of getting their firm ready for a sale.When it comes to “see” in Tyson Ray’s S.P.A.C.E. framework, there’s a mistake Emily sees owners make over and over again.Getting your financials and legal documents in order and solving owner dependence are preparation steps Emily recommends looking into five years in advance.Not waiting until a deal is on the table but actually preparing yourself early for succession will give you more leverage, options and control over when, how, and what you exit to. Links Mentioned in Today’s Episode TotalSuccession.com TotalSuccession.com/Podcast Tyson Ray Tyson’s book Total Succession: 5 Steps for Financial Advisors to Exit Confidently, Be Fully Compensated, and Keep Clients’ Interests First Kim Cochenour Emily Stubbs Visibility CFO Book a 30-minute call with Emily and the Visibility CFO team

    The Enterprise Value Gap: Why Succession Planning Fails Without De-Risking (with Emily Stubbs)

  4. Aug 18

    The Exit You Actually Want — Deal Structures, Fit, and Finishing Well

    Are you ready to step away from your business, or are you just running away from the stress? Success in a business exit isn't just about the final check; it is about finding purpose in your next act and ensuring your legacy is in good hands. In this episode of the Total Succession Show, we dive deep into the emotional and practical realities of succession planning for financial advisors. 🚀 Key Insights in This Episode Succession planning is more than just a transaction; it is often a multi-year partnership focused on value enhancement and tax minimization. We explore why many founders regret their exit not because of the money, but because they lacked a clear identity for what comes next. If you do not know what you are retiring to, the transition can be incredibly difficult. We also break down the three essential qualities of a perfect business fit: being client-centric, planning-centric, and growth-oriented. You will learn about the power of a we culture and why bringing in specialists is the only way to provide truly holistic wealth management. We discuss how to move away from being a one-man band to building a sustainable infrastructure. Finally, we walk through the complexities of deal structures, from upfront cash to equity and earn-outs. You will hear how successor programs can help transition billions of dollars to the next generation while keeping incentives aligned for everyone involved. Chapters 0:00 Intro and the Power of Culture 3:15 Planning for Your Second Act 6:45 Finding the Right Fit for Your Business 9:30 Building a We Culture vs a Me Culture 12:50 M&A Deal Structures and Equity 16:15 Mentoring the Next Generation 18:45 The Value of Exit Coaches and Intermediaries 20:30 The SPACE Framework and Final Steps Ready to plan your confident exit? Tap subscribe and let each episode guide you closer to your goals. Visit totalsuccession.com/podcast to download your free starter guide and pick up the book Total Succession on Amazon today to master your transition! #successionplanning #financialadvisor #businessexit #wealthmanagement #leadership

    The Exit You Actually Want — Deal Structures, Fit, and Finishing Well

  5. Aug 11

    Letting Go — The Founder's Emotional Journey Through Succession

    Selling your business is more than just a financial transaction; it is a major identity shift that many owners are completely unprepared for. In this episode of the Total Succession Show, Tyson Ray and Kim Kokenauer discuss the emotional and practical hurdles of stepping away from the company you built. Learn how to navigate the transition from being the primary decision-maker to finding a new sense of purpose outside of the office. The conversation dives deep into why many founders regret their exit, not because of the money, but because they lacked a plan for what comes next. We explore the freeing yet scary reality of losing control, the misconceptions of comparing a business sale to a real estate transaction, and the importance of protecting your legacy for your clients and team. Key topics covered in this episode: 🚀 Transitioning while staying involved in the business 💡 The psychological shift from founder to ambassador 🔥 Understanding the Arsonist Theory and why owners create problems 📈 Navigating valuations and avoiding predatory offers 🌟 Finding new passions to avoid retirement regret 🤝 Ensuring client continuity and firm culture Whether you are planning to exit next year or in a decade, these insights will help you get out of your own way and ensure your firm thrives long after you have passed the baton. Chapters 0:00 Intro and the Reality of Exiting 2:15 The Freeing and Scary Sides of Transition 5:20 Identity Crisis and Finding New Purpose 8:45 Valuations and Avoiding Bad Deals 11:50 The Arsonist Theory: Managing the Founder 15:10 Ensuring Client Continuity and Legacy 17:25 Final Advice for Founders and Next Steps If you found this helpful, please subscribe to the channel for more guidance on planning a confident exit. You can also visit totalsuccession.com to download our free starter guide or find the Total Succession book on Amazon to start your journey toward a well-planned exit. #BusinessSuccession #ExitStrategy #Entrepreneurship #BusinessOwner #TotalSuccession

    Letting Go — The Founder's Emotional Journey Through Succession

  6. Aug 4

    Building a Team to Replace You: Financial Advisor Succession

    Are you currently working in your financial advising firm, or do you actually own it? Transitioning from being the primary rainmaker to a true business owner requires a major shift in mindset and a strategic plan for what happens when you eventually step away. In this episode of the Total Succession Show, Tyson Ray and Kim Kokenauer discuss how to move toward your freedom date with confidence. Succession planning is not about picking a termination date, but rather creating a timeline that allows you, your team, and your clients to thrive independently. The reality is that developing the next generation of leaders typically takes five to seven years, and today's complex financial landscape often requires a team of three or more to replace a single founding owner. This conversation dives deep into the unintended consequences of success and how to avoid the common pitfall of letting the urgent crowd out the important. You will learn about the SPACE framework, which stands for Seeing, Preparing, Acting, Committing, and Exiting. This tool helps advisors de-risk their firms by reducing owner dependency and shifting the client's relationship from an individual person to the firm itself. The episode also highlights the specific leadership traits to look for in a successor, focusing on empathy and resourcefulness rather than just sales ability. Whether you are two years or ten years away from your exit, these insights will help you build a sustainable legacy. 0:00 Intro and the Concept of a Freedom Date 2:45 The Five to Seven Year Development Runway 5:15 Why Modern Firms Need Larger Leadership Teams 7:30 Avoiding the Pitfalls of Sudden Succession 9:50 Transitioning to a Partnership Model 11:15 Explaining the SPACE Framework 13:30 De-risking Your Firm and Reducing Owner Dependency 15:00 Identifying Empathy and Resourcefulness in Leaders 16:28 Final Thoughts and Next Steps Subscribe to our channel for more episodes designed to guide you toward a well-planned exit. Visit totalsuccession.com to download your free starter guide and learn how to exit on your own terms. #financialadvisor #successionplanning #businessexit #leadership #wealthmanagement 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

    Building a Team to Replace You: Financial Advisor Succession

  7. Jul 28

    3 Mistakes Advisors Make When Selling Their Business

    Is your business just a source of income, or is it a valuable asset you can sell? Many financial advisors are shocked to find that the offers they receive are based on complex math that could leave them working harder than ever just to get paid. In this episode of the Total Succession Show, Tyson Ray and Kim Kokenauer dive deep into the reality of business valuations and the common traps owners fall into during the exit process. We explore why you should throw revenue multiples out the window and focus on what buyers are actually looking for: future cash flows. You will learn how to purify your books by separating personal expenses from business operations to ensure you get the highest possible valuation. We also break down different deal structures, from minority investments to full acquisitions involving cash, equity, and growth-based earn-outs. A successful exit is not just about the numbers; it is about the legacy and the team you leave behind. We discuss the importance of successor programs and how to incentivize junior advisors to take over your book of business. This alignment of incentives ensures a smooth transition for your clients and a confident exit for you. Whether you are planning to retire soon or just want to build a more valuable firm, these insights will help you see your business through the eyes of a buyer. Chapters 0:00 Shifting From Income to Asset Mindset 2:45 The Truth About Business Valuations 5:15 Why Revenue Multiples Are Misleading 7:40 Purifying Your Books for a Higher Price 10:20 Understanding Deal Structures and Earn-outs 13:00 Retaining Talent With Successor Programs 15:30 The Future of Wealth Transfer and Exit Planning Subscribe to the podcast at totalsuccession.com/podcast to guide your journey toward a well-planned exit. You can also find Tyson Ray’s book, Total Succession, on Amazon to learn the five-step framework for exiting on your terms. #financialadvisors #businessvaluation #successionplanning #exitstrategy #wealthmanagement 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

    3 Mistakes Advisors Make When Selling Their Business

  8. Jul 21

    How AI Makes Your Advisory Practice More Transferable

    Is AI a threat to your advisory firm or the ultimate tool for growth? Join Tyson Ray and Kim Kokenauer as they explore how the most successful firms are navigating the intersection of technology and human connection. 🚀 In this episode of the Total Succession Show, we break down the current state of the financial services industry and what it really takes to prepare for a confident exit. We discuss the rise of agentive AI agents and how technology is being used to streamline everything from tax planning to meeting notes. You will hear firsthand accounts of how AI is being used in the field, the potential risks of voice fraud, and why advisors who embrace these tools are seeing massive gains in productivity. 📈 We also dive into the strategic move of transitioning to an RIA model. Tyson shares his personal experience of moving firms after 34 years to gain the flexibility needed to serve clients through his trademarked Dream Architect process. While the transition involves significant work, the ability to build a firm exactly in your vision is a game changer for any leader looking toward succession. 🤝 The future of financial advice is not about robots replacing humans. Instead, it is about shifting roles from administrative processing to deep relationship building. By the end of this conversation, you will understand why the kitchen table conversation remains the heart of the industry and how to lead your team toward a well planned future. Chapters 0:00 Intro and the state of the advisory industry 2:25 How AI and technology are transforming firms 4:50 Using AI to boost advisor productivity and trust 6:45 The reality of transitioning to an RIA model 9:15 Why human relationships will always beat robots 11:45 Succession planning and the SPACE framework 🔔 Ready to take the next step in your professional journey? Subscribe to our channel and visit http://totalsuccession.com/podcast to download your free starter guide. You can also find the book Total Succession on Amazon to help you exit on your own terms with confidence. #financialadvisor #aiinfinance #successionplanning #wealthmanagement #leadership

    How AI Makes Your Advisory Practice More Transferable
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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
    71
  • Rating
    Clean
  • Copyright
    © 2025
  • Show Website
    Total Succession

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