As a firm that takes on retiring advisers to assist it with an ongoing retirement proposition/income, Nexus IFA finds itself in the consolidator box by default.
However if most consolidators stand in one corner of the room, we stand alone in another.
We have never had the slightest interest in moving/changing/replacing any existing monies. It is not that we are naïve, but more importantly, if we did then the ‘new client’ would be immediately drawn into a discussion about whether his past adviser was ever doing the right thing.
How sad that the past adviser who has done a great job in helping a client build wealth is then called into question.
I have said for years that the deal on the table for most consolidators is not the spicy part of the deal – it is getting all those nice new funds onto their own platform/funds. Real money is made on those juicy bps.
If you are looking to retire or exit, do not sell for cash. Those are the sorts of deals that invariably pull you towards the consolidators with other intentions. Maintaining income is far more important and indeed lucrative – for you, the retiring adviser. Simple maths.