Retiring from a successful career as a financial adviser can be a daunting task, especially when it comes to figuring out what to do with all of one's clients. However, as this case study shows, there are options available for financial advisers to retain (and often exceed) an income stream into retirement.
The Retirement Plan team, led by Sam Clark & Amy Wilson, worked with the adviser in question to gradually migrate their clients over a period of six months. This allowed the adviser to manage the process and client expectations in a way that was comfortable for them. The adviser emphasised the importance of working with a team that had a good service proposition, as they had worked hard to build up their reputation and client bank over the years.
The transition from working full-time to retirement was made much easier and smoother with the help of the Retirement Plan team. Signing up to the plan enabled the adviser to feel safe in the knowledge that their clients would be looked after and offered continuity of service within the network. It also provided them with a passive income stream, giving them the financial freedom to take some time off and work reduced hours in the future and even to fully retire.
Six months after retiring, the adviser still receives new enquiries and refers them to the Retirement Plan team. This is because they trust the team to take care of their business interests and look after the clients, they refer to them. After nearly a year of referring clients to the team, the adviser can honestly say that the system works.
This case study highlights the benefits of working with a team like the Retirement Plan team for financial advisers looking to retire. According to a recent study, in the UK financial advisers who are over the age of 60 control more than £100 billion in assets, so there is a significant need for retirement planning solutions for this demographic. Additionally, the study found that more than half of UK financial advisers plan to retire in the next decade. With a growing number of financial advisers nearing retirement age, finding a solution that allows them to retain an income stream into retirement will become increasingly important.
"At the Retirement Plan, we understand that retiring from a successful career as a financial adviser can be a frightening prospect, especially when it comes to figuring out what to do
with clients that advisers have painstakingly supported for so long. That's why we offer a solution that allows advisers to retain an income stream into retirement while ensuring continuity of service for their clients. We believe that it's important for advisers to start thinking about their retirement plans early on, so they can have peace of mind knowing that their clients and business interests will be taken care of in the future." - Sam Clark, Director at The Right Retirement Plan.
Find out more and get in touch today https://therightnetwork.co.uk/retirement-package/
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