In today’s episode—“The Succession Wake-Up Call”—we’re diving into a story that every advisor in Canada needs to hear.

It’s heartbreaking. It’s disturbing. And it’s eye-opening. This is not just a cautionary tale—it’s a call to action.

I was recently introduced to a story involving three advisors, three chapters, and one uncomfortable truth: too many advisors are unprepared for the unexpected.

Chapter 1 begins with a veteran advisor in his 70s, diagnosed with terminal cancer. With time running out, he scrambles to put a succession plan in place.

Chapter 2 follows the younger advisor who steps in to take over the business—only to pass away unexpectedly himself, leaving not one but two practices without a clear plan.

Chapter 3 introduces into the story our guest today—Mike Mollica, an independent advisor in Vancouver, BC. Mike stepped up to take over the business. But without a Will or any formal succession plan, the transition was long, painful, and riddled with legal and privacy challenges. For months, client information was inaccessible. Questions couldn’t be answered. Needs couldn’t be met.

In this episode, we’ll explore:

• Why succession planning is not optional—even for younger advisors
• How privacy laws can complicate transitions without proper documentation
• And what steps you can take today to protect your clients, your business, and your legacy