Is it time to sell your IFA business?
There are five common stages of retirement that few expect to experience, but many do. These are:
- Pre-retirement phase
- Retirement honeymoon
- Disenchantment phase
- Reorientation phase
- Stability phase
Many people are excited at the prospect of enjoying a comfortable retirement after many years of building a successful career.
They often overlook the different emotions they will possibly encounter and may not have even acknowledged that there will be such a process to go through.
At Truestar Legacy, part of our process is to address these issues in the pre-retirement phase. Our expertise will not only help in securing the best outcome for the sale of your business but prepare you for retirement whether now or in the future. These are some of the areas we can work through with you.
Client management
Will my clients be serviced with the care and attention that we have done. How will they feel about another company looking after them after so many years of my personal service. What fees will the new organisation charge my clients
My part in future client management
Can I choose to still work part time say 2 days per week with a handful of selected high net worth clients, with no other responsibilities
The value of my business
How much is my business worth, and when can I expect to get paid. How secure is the organisation that will buy my business
Succession planning for my existing staff
I would want to help my staff transition into their new role and continue to enjoy their career
De-Risk my business
Pass the responsibility of compliance management, CPD and future risk of previous advice
Prepare myself and my family for our new chapter
Be aware of the different stages after retirement and plan my way through
For an informal chat to explore these areas please arrange a call
Reference https://www.caringplaces.com/what-are-the-five-stages-of-retirement/
