Good question, which is why assessing bench strength and succession plans is key. Any knowledgeable holders with informed views on that? Thank you.

Definitely some key man risk in Fiducian. Probably the largest risk I would say as a recent buyer. Having bought shares this week some extra liquidity would be nice but I don't think I'd like to see 1/3 company type liquidity!

Looking at Fiducian's website under "Our People" a clear majority of senior management have been with the company for 10+ years so hopefully they would have a smooth transition when Indy Singh retires as a result. Looking at the different divisions listed in the picture below you can see that there are already other managers who are executive chairman for the these divisions within the business.

The bench seems strong on a superficial look but that does not resolve the problem of Indy's high ownership and his probable exit

@thunderhead , I used to work with Indy at RetireInvest in the 90's. He's a very smart, funny, straight shooter kind of guy. He invited me to join Fiducian when he left RetireInvest and in retrospect, that was my "Pete Best" moment. Shoulda, woulda, coulda.

Anyway, when I was selling my planning business in 2020, Indy (and is son, Jai) came to see me about moving to Fiducian. His offer was the best of any that we received and he was very clear that such a move necessitated moving all client funds to the Fiducian suite of investments. My partner and I decided that although it was in our financial interest to join Fiducian, it wasn't in our clients' best interest (cost of their products) and so, we declined his offer.

I really respected Indy for his clarity and intention about transferring our business to Fiducian. He was, and presumably, still is a no nonsense, no bullshit businessman.

After the initial meeting with Indy to discuss selling the business, our subsequent meetings were with Jai. To be fair to Jai, it was a transaction discussion only, so I don't know how competent he would be in running a listed company if he were to ever hold such a position when Indy retires, but based on my encounters, I don't think he's in the same league as his old man.

That's right. I would expect him to maintain a residual stake at least given his son's involvement in the business, and I'm sure he would show the same regard for prudent stewardship of investor capital in any exit moves as he has for a long time being at the helm of the company - no reason to believe otherwise.

Thank you from providing more colour from your personal experience @Rocketrod. Your impression of Indy checks out with how most people who follow him and/or invest alongside him would expect him to be. Hard for most to be in the same league, even if they are cut from the same cloth like Jai is!