Retirement should be something to look forward to. After years of building a successful advice business, you’ve earned the chance to take a step back and enjoy life outside of client meetings, compliance checks, and investment reviews. Whether it’s spending more time with family, travelling, or just having the freedom to pick and choose how you spend your time, the end of your career should be rewarding.
But for many self-employed financial advisers, the thought of retiring comes with more anxiety than excitement. The reality is, if you haven’t planned for how you’ll leave your business, you’re not alone, and the consequences of avoiding succession planning can be serious.
What We Learned from the HappyScore
Last year, we launched the HappyScore, a short self-assessment designed to help financial advisers reflect on key areas of their business, including Structure, Strategy, Systems, Services, Support, and Succession. The results from the succession section paint a clear picture: most advisers are simply not ready to retire.
- Just 10% had compiled a full business prospectus with valuation and buying options.
- 0% had a fully worked-out retirement plan or a named buyer.
- 60% admitted they were worried about how much their business would sell for.
- 0% were mentoring a successor.
- Only 5% had informed their clients of any succession plan.
- And just 5% had identified a buyer or successor who aligned with their values.
These numbers paint a picture of an industry where even experienced, capable advisers are putting off the difficult decisions around succession, either because they don’t know where to start or they don’t have a clear path forward.
How Truly Independent Solves This Problem
At Truly Independent, we understand how hard it is to build a business from the ground up. That is why we’ve created a succession plan that puts advisers and their clients first. Our Succession Plan is designed specifically for self-employed IFAs who want to retire with a clear, supported exit strategy that protects their clients and the value of their business.
Here’s how we do it differently:
You’ll Work with a Financial Analyst
In the lead-up to retirement, our dedicated Financial Analyst works closely with you to value your business properly and advise you on how to prepare it for sale. Whether you’re two years away or ten, this approach creates a win-win situation—you get a better price for your business, and we acquire a stronger practice.
You Already Have a Buyer
When you join Truly Independent, you’re not just joining a firm, you’re securing a buyer. There is no need to chase third parties or worry about getting two or three times your renewal. We take care of that.
Seamless Transition for Your Clients
Because the handover happens within Truly Independent, the transition is smooth and familiar. Your clients stay with the same firm and continue receiving the independent advice they’re used to, delivered by a qualified Truly Private Clients adviser who upholds the same high standards of professionalism and impartiality.
Continuity and Care
Our approach is always client-first. We know how important those relationships are, and we work hard to make sure that continuity and service quality are maintained throughout the succession process.
Expert Support Every Step of the Way
From the first conversation to your final day, our team supports you throughout. You are never left to figure it out alone and your clients aren’t either.
Plan Your Retirement with Confidence
If you’re starting to think about retirement, don’t leave it to chance. A proper succession plan isn’t just about your exit, it’s about your legacy.
Take the HappyScore today to see where you stand, and speak to us about how Truly Independent’s succession Plan can help you achieve the retirement you deserve.
