Our typical enquirer is an adviser looking to retire and exit using our advocacy proposition - see separate topic on this if interested.
However, just recently, I am finding an increasing number of advisers calling as they have the problem of wandering into their office to be told that the business has been sold.
"But I own the clients."
Well the problem is you don't if someone else has sold them - the lawyers and new owner won't have got this bit wrong.
Trying to then formulate a solution i.e. setting up on your own or joining a firm like Nexus IFA may seem a reasonable solution but the chances are there's a clause in your agreement that prevents you approaching 'your' clients.
This is a head's up - if you are part of a multi-adviser firm then the boss is likely to think about removing some of the firm value at some point. None of us are getting any younger.
The Nexus IFA agreement specifically states that if you move on then your clients go with you (I say this just in case you have frying pans in mind!)
More importantly our agreement has an arrangement for what happens to your share of the value when you wish to exit - our advocacy solution
Ian McIver
0770 8712967
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