ABOUT 360 FINANCIAL'S FOUNDER
Mike Rogers, AIF®, President and Founder
Mike Rogers is the President and founder of Wayzata-based 360 Financial. Prior to establishing the firm in 1995, he spent seven years building a solid financial base with two of the nation’s largest investment firms. As a fiduciary, he utilizes his 30+ years of experience to orchestrate and implement customized strategies tailored to address the issues and concerns of qualified retirement plan trustees, high-level professionals, and thriving business owners. Mike holds the series 7 and 63 security registrations with LPL Financial. He served six years on the Benilde-St. Margaret’s Board of Directors, chairing the Investment Committee for many of those years. Belonging to the LPL Financial Chairman Club and the Financial Planning Association allows continual support for the financial industry. As the founder, Mike’s priority is that 360 Financial always serves the client with empathy, integrity, and honesty. This robust, client-centric approach allows the firm to help clients decipher between what they can control and what truly matters. In other words, Mike understands that money is not the end-all-be-all; instead, it’s the “how” that fuels the “why” of the question: “What’s important to you?” Mike lives in Minneapolis with his wife Anne, the “littles” Cole, Ethan, and Brooke, and the occasional “bigs” Zachary, Morgan, and Taylor. In 2018, Mike bought The Lake Minnetonka Triathlon to support his love for giving back to local charities (and it forces him to stay in halfway decent shape).
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Why settle for a private equity sale that doesn’t
support your vision or protect your clients?
We can help you leverage your assets and monetize your business with a single transition that delivers a win for your clients, employees, and your family.
More Freedom, Less Work with Succession 360
Succession 360 is the financial advisor succession planning process that gives you back your time while providing excellent compensation.
You won't be stuck in the day-to-day business details. Instead, you'll have the time you need to start planning your next chapter.
360 Financial's Succession Planning for Financial Advisors
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Client-First Experience
A smooth transition process is critical for maintaining client trust and satisfaction. Our service model puts clients first in all facets of your business. 360's LifeWealth planning process revolves around your clients and what matters to them most.
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F.O.R.M Goals
F.O.R.M. is our robust financial planning process. We look at four areas of a client’s life to craft plans individualized to their unique goals: Family, Occupation, Recreation, and Money (F.O.R.M). We enrich lives by leading and navigating clients through impactful financial events.
Team Support
Gain greater flexibility and client support by partnering with CFP-registered next-generation advisors. With more personalization and customization opportunities, your clients will enjoy a better experience.
“I knew I could sit with my clients and say with confidence this merger is going to benefit my clients now and in the future.”
– Brian Bohnsack, AIF®, Senior Vice President, Financial Advisor, Managing Principal of the Elk River Office
24/7/365 Customer Service
Enjoy a rock-solid support system with 24/7/365 customer service. Collaborate with our CFPs, CPAs, and Risk Management specialists to strategize plans that serve your clients. Best of all, you can finally take a vacation without your laptop!
Dedicated Operational Excellence
360's Entrepreneurial Operating System (EOS) enhances client services through technology and internal efficiencies. Our business departments maintain best practices and drive company growth.
Evergreen Company
As an evergreen company, we don’t depend on just one advisor or support member. Your clients will never have to go through another merger or transfer. Our team of fiduciaries will always be here to support your clients' best interests.
Align Your Time
As a 360 Financial partner, you’ll have:
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A dedicated team
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Multiple office locations
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A community of people to keep your business running
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More flexibility
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More free time
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Excellent compensation
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A customized succession timeline based on your goals
We believe in enriching lives, including yours.
What Is Your Ideal Number and Timeline?
Leverage Your Assets to Create Your Ideal Retirement Plan
Compensation - 10% Growth YOY
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Be Well Compensated for Your Life’s Work
360's goal is to help you transition out of your business and monetize it to your greatest benefit.
Succession 360 is a customized succession plan that allows you to leverage your assets today, monetize your business for the future, and choose your timeline.
The ideal succession is about preservation, focus, and alignment with your goals.
Let's discuss your ideal timeline, cash flow, and income. Then, we’ll customize a plan that works best for you, your family, and your clients.
We work with you to determine a competitive, customized valuation and transition timeline. Whether you prefer an upfront payout or an income stream over time, we tailor your exit for maximum benefit.
Succession Doesn't Have to Be a Pain
Dreading the work involved in changing broker-dealers?
What if a well-regarded transition team did all the heavy lifting for you?
360 Financial's team is specialized, organized, and fast. We expedite timing, open all the accounts, and handle all repapering.
LPL Transition Team + 360 Financial
The LPL Transition Team comprises four dedicated team members who oversee the transition and ensure the timeliness and accuracy of all account transfers.
360 Financial has three dedicated transition staff to oversee the LPL Transition Team and assist with any challenges.
Outside onboarding resources are available if additional help is required.
Easy Digital Repapering
90% of paperwork is done via electronic signature with DocuSign, and most broker-dealer accounts are ACAT, meaning they typically transfer in 3 days.
The Succession 360 Process
The joint team of LPL and 360 Financial has deep experience with transitions. We know what to look for and have tips and tricks for navigating common challenges.
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Transition Execution
Motivated transfers can happen as quickly as 30 days, but transfers are typically 90% complete in 30-45 days.
Firm Type | Moved Accounts | Completion | Within First |
|---|---|---|---|
Big Channel | 30% | 90% | 30-45 Days |
Wirehouse | 60% | 90% | 30-45 Days |
Independent Firm | 85% | 90% | 30-45 Days |
360 Timeline
360's team moves fast and takes care of everything, ensuring the transition is smooth and efficient.
Milestone | Start | Duration |
|---|---|---|
Total Time | - | 90 Days |
System Integration | Week 6-9 | 30 Days to 90% |
Training | Week 4-6 | 10 Days |
Core Processes | Week 4-6 | 10 Days |
Full repapering (digitized and mail) | Week 1-4 | 30 Days to 90% |
Greenlight on Transition | Week 1 | - |
"We've had positive feedback from our clients regarding the transition experience."
- Michele Meier, CFP® Client Service Manager, Wayzata, MN
$100M Brokerage Firm Case Study
85% of All Accounts Opened at 90% in 30 Days
Flemming Investment Group's Transfer to 360 Financial in 2022
First 30-45 Days:
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The client's assistance was kept minimal so they could stay focused on their clients
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LPL's Transitions Team opened all the accounts
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360 Financial's Transition Staff oversaw signatures on all electronic and mailed documents
The Results:
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86% of accounts opened, with 90% of account transfers completed within three weeks
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Compliments to the team with a <2% NIGO rate
Attention to Detail from Start to Finish
"One of the things 360 Financial did exceptionally well is attention to detail before, during, and after the transition experience. Nothing was left to chance at any time. And that made the entire process simple and enjoyable."
- Michele Meier, CFP®, Client Service Manager, Wayzata, MN
Business Support
360's business departments maintain best practices and drive company growth, so you get top-tier service without needing to manage it yourself.
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Operations
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Accounting, Payroll, HR, Benefits
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IT Department
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Compliance
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Managing Tech Stack, Security, and Phone System
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Marketing and Sales
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Business Development
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LPL Chairman's Council Award - Based on Annual Production
Leading the Industry
“With its systems coordination and entrepreneurial, operational culture, 360 Financial is five years ahead of the other firms.”
- Ron Eckstam, Former Advisor, Wayzata, MN
Values & Culture
360’s Six Core Values:
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Confidence
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Positivity
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Problem-Solving
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Community Impact
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Integrity
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Going Above & Beyond
Everyone at 360 Financial lives and breathes the six core values as we strive to serve you and your clients best.
As a growing firm, we offer career development opportunities and other benefits for all team members.
In 2022 and 2024, we've been recognized as one of Inc. Magazine’s Best Workplaces. We welcome your team to Team360 and look forward to a rewarding, healthy, fun, and mutually beneficial relationship
Hybrid RIA
Save Time and Reduce Headaches with the Best of Both Worlds
Keep ownership in your business, allowing for other investment and income streams.
Get the big company advantages through LPL’s self-clearing operations, elite service, technology, and research resources under a single umbrella.
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Experience the timeliness of self-clearing operations with back-office support.
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No more long wait times, being transferred, or waiting for problems to be solved.
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LPL’s elite team gives you a direct line to the right people to solve issues quickly.
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LPL is reinvesting $1 billion into technology for additional integrations, greater efficiencies, and improved business efficiency.
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Get smart, secure technology systems and support through LPL, Redtail, Riskalyze, EMoney, and other dynamic software. The integration of platforms drives better outcomes for the team and your clients.
The Best of Both Worlds
"It’s the best of both worlds … to be an independent RIA and affiliated with a large broker/dealer."
- Brian Bohnsack, AIF®, Senior Vice President, Financial Advisor, Managing Principal Elk River Office
96% Client Retention Rate (As of 12/31/2024) and 40% Client Referral Rate (As of 12/31/2024)
A Culture of Growth
“We are on the same page with clients, employees, and the community. The beauty of the firm’s culture is knowing that my staff will be able to grow and be part of an organization for many years.”
-Mike Rogers, Founder and President, 360 Financial
When Should You Start Succession Planning?
The best time to start succession planning is before you feel the need to start.
The earlier you begin, the more options you have to ensure a seamless, well-structured transition. Financial advisors should start planning at least five to ten years before their intended exit. This allows for proper client communication and business valuation maximization.
However, even if you're considering a near-term transition, 360 Financial can help you develop a succession strategy that preserves client relationships and financial indepence. Our process is designed to help you inform clients, preserve your legacy, and achieve maximum value for your business.
Benefits of Proactive Succession Planning
Proactive succession planning provides confidence.
If you have a succession plan in place, you can stay focused on your clients and building your business. You won't be worried about bringing on a new client as you wonder what will happen to them in 5 years.
Instead, as you increase the value of your financial advisory practice, you'll know that you're building towards a profitable exit.
Common Challenges in Financial Advisor Succession Planning
Many financial advisors delay succession planning.
There are many reasons for this including emotional attachment to their business, uncertainty about valuation, or fear of disrupting client relationships.
Others worry about finding the right successor, structuring a deal that reflects the true worth of their practice, or navigating regulatory and compliance complexities.
If you're busy running your business, it’s understandable that you’d put off planning.
There never seems to be a “perfect” time to start. That’s where 360 Financial comes in. We simplify the process and handle the heavy lifting, so you don’t have to worry about anything.
Defining the Succession Planning Process
A successful succession plan ensures continuity for your clients.
It also preserves the value of your business, and provides a smooth transition on your terms.
Even without an internal successor, you can secure a seamless exit by partnering with a team that understands your vision and prioritizes client relationships.
With the right strategy, you can monetize your practice, maintain your legacy, and transition with confidence.
Leave a Legacy Your Clients Appreciate
“We want your clients to be happy about your retirement because they know you took care of them.”
- Mike Rogers, AIF®, President and Founder
Frequently Asked Questions About Succession Planning for Financial Advisors
Transparency is key to maintaining client relationships. The right time to inform clients depends on your timeline, but we recommend addressing it well in advance—typically 12-24 months before the transition. This allows for a smooth handoff while preserving confidence in the firm’s future.
An internal succession may involve selling your firm to a family member, a junior advisor, or existing partners. This ensures continuity but requires years of preparation. Our team helps develop a structured internal succession plan that aligns with your goals.
Our transition process is designed to be seamless, with minimal disruption to your business. We provide dedicated support, including legal, compliance, and operational teams, to handle all the heavy lifting—so you can focus on your clients.
Unlike firms that focus purely on financial transactions, we emphasize client satisfaction, advisor well-being, and operational continuity. Our team ensures that your clients receive the same high level of service they’re accustomed to while you maximize the value of your practice.
Succession planning ensures financial security for you, your family members, your employees, and your clients. A well-structured succession strategy helps maintain trust, prevents business disruption, and ensures long-term client satisfaction.
Your Legacy. Your Clients. Your Future.
You’ve built a business rooted in trust, dedication, and expertise.
Now, it’s time to ensure that legacy continues—on your terms.
With 360 Financial, you get more than just a buyer—you get a partner committed to seamless succession, client satisfaction, and maximizing the value of your life’s work.
Our proven process ensures that your transition is smooth, efficient, and designed to safeguard everything you’ve worked so hard to build.
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A smooth transition for you
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A confident future for your clients
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A partner you can trust
We’ve been here since 1995, and we’ll be here for the future. Let’s build your succession plan together.
We only take on a limited number of advisor transitions each year to ensure a high-touch experience. Let’s start the conversation today.