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Oct 29 2021

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Business Continuity Decision Tree

Plan for the future with MDRT’s choose-your-own-adventure-style guide.

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As an MDRT member, you understand the importance of effective planning for those we love and the things in life we cherish. We regularly advise clients to be ready for contingencies — and we need to take our own advice.

Business continuity planning is not just the formalization of your wishes for turning over control of your practice. It could also include exploring the benefits of merging with another practice, acquiring books of clients, or other ways to scale your business or adjust your role and priorities. All of this planning relates to the long-term strength of your firm, both while you are there and after you retire.

Like any good estate plan, your business continuity plan considers the effects of death, incapacity, sudden exit or retirement from your practice. What happens to you, your family, your clients, your staff and other stakeholders depends on your thoughtfulness and efforts.

Who should engage in this planning?

  • If you have been in the profession five or more years, you should have a contingency plan.
  • If you are within 10 years of retiring, you should have a succession plan.
  • If you are looking to expand your practice and want to consider your options for blending with the owner(s), advisor(s), staff or clients of another practice.

This planning represents your commitment to those who have chosen to live with you, work with you and be served by you. The transition of your practice may seem difficult to consider, but it will happen someday — on your terms or not.

This site offers a wealth of information, guidance and resources developed to assist in your efforts. Many MDRT members have gone through this planning successfully, and so can you.

Click an option below to start your journey.

Continue to: 8 reasons why business continuity planning is important

Jump to: Define your objectives

Learn more about business continuity at mdrt.org.