As a financial advisor, planning for your own future is just as important as guiding your clients. Transitioning to independence offers a range of lucrative retirement options, providing you with the freedom to grow your practice and secure your financial future through well-thought-out exit strategies and succession plans.
Plan for a Rewarding Exit
Retirement planning is a critical aspect of your career journey. As an independent financial advisor, you have the unique opportunity to sell your book of business as a profitable exit strategy. This can significantly maximize your financial gains, offering a substantial reward for your years of hard work. For instance, an average book of business generating $30-60 million in AUM typically earns 2-3X EBITDA. Larger books, with $100 million in AUM, might earn 4-5X EBITDA, and top-performing RIAs could even earn up to 10X EBITDA or more.
Develop a Robust Succession Plan
A well-crafted succession plan ensures that your clients continue to receive exceptional service and that your legacy endures. Transitioning your practice smoothly to a trusted successor can provide peace of mind and financial stability for your retirement. It’s crucial to identify and mentor potential successors early on, aligning them with your business values and client service standards.
How OneSeven Supports Your Retirement and Succession Planning
At OneSeven, we understand the complexities of planning for retirement and the importance of a seamless succession. We provide comprehensive support to advisors through tailored strategies designed to maximize your practice’s value and ensure a smooth transition. Our experts assist in identifying potential successors, developing mentorship programs, and crafting personalized succession plans that align with your long-term goals. With our guidance, you can confidently navigate the transition, knowing that your clients and your legacy are in capable hands.
Explore Your Options Today
Ready to explore the lucrative succession planning, retirement, and exit strategies available as an independent financial advisor? Contact me today to learn how we can help you achieve your goals and secure your financial future.
Adam H. Blumenthal
Chief Growth Officer
E: ablumenthal@weareoneseven.com
P: 216.789.2228