Advisors Plan for Everyone’s Retirement—Except Their Own | Andrew Mirolli

Why RIA Succession Planning Can’t Wait: Insights from Andrew Mirolli

Succession planning is something many financial advisors know they need to address, but it often gets pushed further down the priority list. Andrew Mirolli, Co-Founder and Head of Client Services at buyAUM.com, stresses that waiting too long can often reduce both the value of a firm and the options available when it’s time to transition.

On episode #16 of Gray to Great, Andrew shared insights from working with Registered Investment Advisors navigating acquisitions, growth strategies, and succession planning. His work connecting buyers and sellers has given him a clear view into what makes transitions successful and where many firms run into challenges.

Key Insights from Andrew’s Conversation

One of the most common issues is timing. Advisors frequently delay succession planning until they are close to retirement, but strong transitions are usually the result of preparations that begin years earlier. Buyers are not just evaluating assets under management or revenue. They are looking closely at how the business operates, whether client relationships extend beyond the founder, and how dependent the firm is on a single advisor.

Andrew also emphasized that valuation conversations often focus too heavily on headline multiples. In reality, the structure of a deal plays a major role in determining the final outcome. Terms related to retention, earn-outs, and payment schedules can significantly influence how much value a seller ultimately realizes.

For advisors thinking about the future of their practice, Andrew encourages earlier and more deliberate planning. Strengthening infrastructure, developing internal leadership, and reducing founder dependency can make a firm more resilient and more attractive when the time comes to transition. As the industry faces a growing wave of advisor retirements over the next decade, thoughtful succession planning will play a critical role in protecting firm value and ensuring continuity for clients.

More About Andrew Mirolli

Andrew Mirolli, CEPA®, is Co-Founder and Head of Client Services at buyAUM.com, where he partners with Registered Investment Advisors to grow through acquisition and navigate succession planning with confidence. He works with both buyers and sellers to structure transitions that protect enterprise value, preserve client relationships, and honor the legacy that advisors have built.

Prior to buyAUM.com, Andrew worked directly with advisors in roles across wholesaling, capital markets, and advisory consulting. Early in his career, he worked closely with RIAs and independent advisors, building relationships across the industry and gaining a foundation for how advisory practices are built, scaled, and eventually transitioned.

Andrew is a Certified Exit Planning Advisor (CEPA®) and he holds his Series 63 license. His practical focus is on helping advisors think beyond discretionary revenue to the structural and relational elements that drive valuation and continuity. He graduated from the University of Georgia with a degree in Real Estate Development and currently resides outside Atlanta.