Copyright © 2015 by Eric Hehman, Jay Hummel, and Tim Kochis. All rights reserved.
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Published simultaneously in Canada.
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Library of Congress Cataloging-in-Publication Data:
Hehman, Eric, 1974-
Success and succession: unlocking value, power, and potential in the professional services and advisory space / Eric Hehman, CFP, Jay W. Hummel, CFA, Tim Kochis.
pages cm
Includes bibliographical references and index.
ISBN 978-1-119-05852-6 (cloth) ISBN 978-1-119-07148-8 (pdf) ISBN 978-1-119-07135-8 (epub)
1. Executive succession. 2. Consulting firms–Management. 3. Business enterprises–Management. I. Hummel, Jay W., 1979- II. Kochis, Tim, 1946- III. Title.
HD38.2.H44 2015
001–dc23
2015019101
Cover image: Old Rusty Locks ©iStock.com/JuhaHuiskonen
Cover design: Wiley
Eric Hehman: To my wife, JayLeen, who has been the biggest blessing in my life and truly is my better half. Her confidence in me is unwavering and propelled me to take my initial job at Austin Asset as an unpaid intern. To my four young children: my hope is that someday, when they read this book, they will gain a deeper insight into their dad and know that even one person can make a difference in this world. To my parents, Curtis and Kathy, who modeled persistence and loyalty and inspired me to understand that slow and steady does win the race.
This story would not be possible without John Henry McDonald. His mentorship and partnership fueled my courage to be the leader I am today. To my partners at Austin Asset, Greg Van Wyk and Jonathan Davison, and our colleagues at Austin Asset, for joining me on this journey of building a business that we are all very proud of.
I am grateful to be surrounded by many wise mentors who challenge me to step beyond my limits: Larry Fehd, Tony Budet, Mark McClain, Jim Craver, Chris Hurta, Dave Helms, Rick Rhodes, Matt Burns, Trey Halbert, Matt Livingston, Jonathan Huffman, Mike Tipps, and Jeff Brown, when I needed your counsel, you were always there. Bits and pieces of each of you are in this book. To the members of my study group, Xcelsior, for their incredibly helpful constructive feedback over the last 10 years.
The beauty of a project like this is learning from your coauthors and being affirmed by their shared insights. Tim has been a mentor from afar for many years. Whether he knew it or not, his sharing of his experience with a young kid from Texas was a real help to me. And to Jay, that infectious spirit of enthusiasm whom I met four years ago. Our minds raced to the adventures we might share one day. One day has come, my friend.
