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Succession Planning

Exiting the industry someday is inevitable. For this reason, it is important for a financial advisory business, its clients and its staff that a successor is identified to take over one day. A succession plan is a business strategy for the transfer of uninterrupted control and management to a successor when the owner exits the business.

Succession planning is a significant factor of success and growth for financial service providers (FSPs). By appointing individuals to key positions in a business with a view to taking over in the future, business continuity is ensured and the owner leaves a legacy of goodwill and professionalism.

Choosing a successor and integrating them into the business also ensures that their clients’ financial needs will continue to be met throughout their lifetime and the owner is able to fulfill his or her moral obligation to them. They are more likely to remain with the business if there is a proper hand-over and they have been assured they will receive similar ongoing service.

Furthermore, business continuity also provides job stability for staff. This helps a business retain talented staff, as they recognise they have a future in the business.

It is essential to identify the right successor for a business. Generally, this person would be a like-minded individual, with similar technical expertise, style, values and culture in terms of dealing with employees and clients.

As succession planning is a long-term event, we assist independent financial advisors with succession planning through practical guidance, face-face seminars, webinars, business assessments and business valuations. To harness the full potential of your business and your staff, please contact us.


A national supplier of risk management services to independent financial advisors and other licensed financial service providers (FSPs). Established in 2004, we help our clients overcome their risk management challenges so they can grow and thrive in an increasingly regulated industry. Providing professional guidance and practical support, our team of specialists is passionately committed to delivering tangible solutions.

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