National IFA firm Continuum has introduced a succession solution for advisers considering the next step for their business.
The solution, called My Continuum Succession, is available to all advisers within the Continuum partnership.
It allows advisers looking to grow their business to buy the client book of another adviser within the partnership who is looking to retire.
The firm said the partnership manages the entire sale process including legal assistance, finance and registration.
Martin Brown, managing partner at Continuum, said: “My Continuum Succession enables best outcomes for everybody. The client benefits from a seamless transition to a Continuum adviser with the same knowledge and ethos as their original adviser.
“The selling adviser achieves market-leading capital and the reassurance that their clients will never have to worry about their financial future as there will always be a Continuum adviser there to help both them and future generations.
“The buying adviser gets the opportunity to fast-track the growth of their business with access to quality client banks and continued consultancy support through the Continuum partnership.”
The firm said the premise of the partnership is built upon a three-way partnership between the clients, advisers and the business.
“One of the hardest decisions faced by many advisers is knowing when to step back from the business they have built up,” Brown said.
“Advisers naturally want to make sure that they not only pick the right path to access liquidity for themselves, but also for their team and their clients.”
He explained that while there are many IFA consolidators and networks in the market that have the ability to offer good value for advice businesses, culturally this may present a challenge.
“Additionally, the sale process can also be stressful and costly,” he said. “My Continuum Succession has been designed to overcome these challenges.
“There is an overwhelming demand for financial advice in this country and a shortage of good quality financial advisers to fill that gap. My Continuum Succession helps to give security and peace of mind to both advisers and their clients that they will always have a top-quality independent financial adviser available to help.”
Last week, the firm reported its assets under influence rose 13 per cent year-on-year, reaching £1.72bn at the end of the first quarter of 2023.
For the quarter ending March 31, 2023, the M&G-owned firm reported an 8 per cent rise in ongoing recurring income year-on-year.
sonia.rach@ft.com
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