Identifying a potential successor that has the skills and expertise necessary to manage the key elements of running an RIA firm, including business management, client relationships and service, and the firm's investment management philosophy. 3. Structuring the right kind of deal that clearly outlines roles and responsibilities during the transition, ownership stakes and ownership transfer timetables, and specific deal structure. 4. Implementing the plan with a timeline for key transition events, such as when a successor becomes the decision maker in the firm. Transition Planning Schwab said its report about M&A deal structures outlines key drivers of RIA firm valuation and explanations of how cash flow, expected growth trajectory, and risk mitigation influence value. The report also outlines common valuation techniques used for RIA firms and common elements of RIA firm deal structures.