The Importance of a Well-Defined Transition Plan in Wealth Management

In 2023, Don Bielen wrote about The Keys to Successful Business Succession Planning, where he explained why having a trusted team of advisors is critical in successfully executing a transition plan. More recently, in a webinar hosted by Oswego Private Wealth Management, he discussed the importance of a well-defined succession strategy in efficiently managing one’s wealth. Don’s sage advice considers the following key questions that many business owners have when considering the future of their businesses and legacies.

Creating a Transition Plan: FAQs

  • When should a business owner start the transition planning process?
  • What are the three essential elements in executing a successful transition?
  • Who should be involved in the process, and how long does it take?
  • What are the primary challenges for most transitions?
  • How should a business owner successfully execute an integrated transition plan?


In addition to watching the webinar, check out our latest case study on how experts from multiple service teams at Perkins & Co integrated custom solutions to preserve a family’s 50-year legacy. 


Are you and your business sufficiently prepared to preserve your legacies and wealth? It’s never too early to plan ahead and craft your succession plan with the help of our experts and our tailored-to-you service approach. Contact us today to ensure you are set up for success tomorrow and moving forward.


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Don Bielen, MBA, CFP, CM&AA, and Principal at Perkins & Co, specializes in business transition and succession planning as well as transaction advisory for clients throughout the United States.