Changing of the Guard

Amar Pandit , CFA , CFP

Amar Pandit

A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

October 14, 2022 | 2 Minute Read

If you have been to London, chances are you have seen the “Changing of the Guard” ceremony at Buckingham Palace. Millions of people from around the world flock enthusiastically to see this ceremony. This takes place in front of Buckingham Palace at 10:45 am and lasts for around 45 minutes.

What really happens at this ceremony besides marching and music?

The Changing of the Guard provides for a seamless and orderly transition between the old guards and the new guards.

There are three primary objectives of this.

  1. To carefully inspect the new guard before they stand post
  2. To protect Buckingham Palace during the transition without interruption and
  3. To ensure only the best guards are allowed to stand guard

You might be wondering if this is a crash course on “Changing of the Guard.”

It’s not.

But it’s a perfect metaphor for world class succession planning.

Read the 3 objectives again.

Get this right and the following happens:

  • Your clients and team members both are well taken care of, and they have an amazing new home (with or without you)
  • You enhance (rather multiply) the value of your practice
  • You ensure continuity for everyone

Get this wrong: God Bless You.

 

P.S. This is the 300th blog post of the happyrichadvisor blog. It’s a personal milestone in writing this blog since January 6th ,2020. Thank you for all the love. If the blog has made a difference in your life, I would love to hear from you. If it hasn’t, I would still love to know why and what if anything could be done to make it better.