Succession - it's been in the headlines this last month.

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And while not all succession stories attract billion-dollar payouts or a dedicated tv series, successfully managing transitions is critical to ensuring stability, investing in continuity, and providing ongoing leadership.

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Here’s Mavin partner Greig Nicholson on how Mavin's consultants can support your succession needs:

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Supporting Business Continuity

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Sudden leadership changes or unplanned transitions often leave teams stretched, leading to poor or delayed delivery or impacting on team morale.

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Consultants can temporarily step into the BAU or project team to offer specialist skills and ensure that critical tasks continue without disruption.

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This is an immediate way to bring in additional bandwidth to maintain business operations while also giving the organisation the breathing space to act thoughtfully in assessing business needs and determining its succession plan.

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Acting as Interim Executives

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During leadership transitions, recruitment frequently takes time as organisations search for the right long-term candidate. This is particularly important when hiring for senior or specialist roles.

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Consultants can step in as interim executives, acting in leadership roles until a permanent successor is appointed. In this capacity, they manage strategic decisions, maintain stakeholder confidence, and keep the organisation moving forward. Utilising consultants in this way can also provide objectivity, brings in fresh ‘outside-in’ perspectives, and limits disruption to business momentum.

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Most importantly, acting in an executive capacity keeps team dynamics strong and buys valuable time for businesses to find the best long-term fit for their organisation.

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Mentoring Future Leaders

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Perhaps the most forward-looking contribution a consultant can make is in mentoring and developing internal talent. Succession planning is not just about filling immediate gaps but also about preparing the next generation of leaders. Consultants bring deep industry knowledge and leadership experience that they can transfer to up-and-coming talent within your firm.

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Acting as mentors, they provide coaching on leadership styles, decision-making, and the complexities of managing teams, helping potential successors build their confidence and capability.

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This guidance ensures that when internal employees are promoted into new roles, they are not overwhelmed but instead equipped with the tools they need to succeed.

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Acting as an objective sounding board for both the individual and the organisation, consultants can provide feedback on readiness and provide support in identified areas for growth.

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Succession planning is as much about foresight as it is about immediate problem-solving. Consultants bring both perspectives: they can step in to ensure operations run smoothly today while also strengthening the long-term talent pipeline for the leaders of tomorrow.  

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For organisations looking to remain resilient in the face of change, making consultants part of the succession strategy has proven to be both a smart, and strategic, investment.

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Greig Nicholson

Mavin Advisory Group Partner

Greig has over 24 years' experience specialising in op model design and leading the execution of strategic transformation programs.

Prior to co-founding Mavin in 2019, Greig headed Operations, Change and Risk functions in funds managers, wealth managers, superannuation funds, asset servicers and retail banks.

Within his roles, Greig was responsible for setting & delivering strategy, transforming businesses, uplifting capabilities and managing & supporting people on the day to day and the change journey.

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Mavin Advisory Group is a specialist investment and wealth management consulting firm that provides tailored solutions to meet the unique needs of its clients. Founded by industry experts with a deep understanding of the evolving financial landscape, Mavin delivers compelling insights and innovative solutions to help clients achieve their strategic goals.

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