If you’re a financial adviser, you may have felt the growing pressure—mounting regulations, outdated technology, and the temptation (or necessity) to sell out to a consolidator. It’s an all-too-familiar story. But what if there’s another path forward? One that allows you to continue doing what you love, with a better work-life balance and potentially the same level of income?
At the Academy, we provide a fresh start for financial advisers like you who are ready for a “plot twist” in their career. Imagine stepping away from the stress of compliance, selling products, and managing assets, and moving towards a holistic, client-focused financial planning business. One that’s rooted in life planning and human capital development—where your value is in planning, not products.
A New Chapter: Financial Planning, Not Advising
If you’ve got another decade of economic activity in you, but perhaps not full-time, this is the perfect opportunity to shift gears. We’ve worked with professional bodies, including the CISI and CII, to recognise the difference between financial advice and financial planning. You can remain a registered member, holding onto your accreditation and titles, without needing to be on the FCA register for your Statement of Professional Standing (SPS).
Up and Running in 3 Months
We make the transition seamless. In just three months, you could have a fully operational financial planning business, complete with a website, CRM, shop, and all the tools you need. You’ll receive training in life planning and human capital development, and we’ll show you how to integrate AI into your operations, so you don’t need a large admin team. The total cost? Less than the fee from your first client—and members report breaking even by the second month.
What Members Are Saying
Here’s what one member shared about their experience transitioning out of their financial advice business:
“I sold my practice in 2019, and at first, things were fine. But the new owners brought in a ‘manage by spreadsheet’ mentality, which led to client needs being ignored, service levels dropping, and complaints rising. It was heartbreaking. After 18 years with only one complaint, suddenly, everything fell apart. I’m glad I got out when I did—the stress wasn’t worth it anymore.”
Another member who made the shift to holistic financial planning said:
“I walked away from financial services because of the stress, but I’ve found a new path as a fee-paying financial planner. It’s early days, but the client feedback has been overwhelmingly positive. I still offer all the services of a financial adviser, but without the product recommendations, which means no heavy regulation, minimal compliance costs, and no exorbitant PI insurance. It’s a win-win for me and my clients.”
Ready for Your Encore Career?
If you’re ready to enjoy the freedom of a better work-life balance, less stress, and the chance to continue your career on your terms, we’re here to help. The Academy is your safe haven—a place where you can step into a new chapter and build a business that serves both you and your clients better.
Reach out to us today to learn more about how we can support you in making this exciting transition. It’s time to take back control and enjoy financial planning as it was always meant to be: client-centred, holistic, and rewarding.
Q&As for Financial Advisers Considering an Encore Career with The Academy
Q: I’m a financial adviser, feeling overwhelmed by regulation and outdated tech. How can The Academy help me?
A: At The Academy, we understand the challenges you’re facing. Our programme offers a fresh start, allowing you to shift from financial advice to holistic financial planning. We’ll support you in setting up your business, including a website, CRM, shop, and more—all while training you in life planning and human capital development. You’ll have the tools to thrive without the stress of heavy regulation or outdated processes.
Q: I’m considering selling my business to a consolidator. Why should I consider transitioning to financial planning at the same time?
A: Selling to a consolidator and retiring might seem like the easiest option, but it often comes at a cost—your clients may not get the same personalised service, and you could lose control over your legacy. By transitioning to holistic financial planning, you can continue doing what you love, maintain control, and enjoy a better work-life balance, all while potentially earning the same income. Plus, we’ll help you get your new business up and running in just three months!
Q: How do non-compete clauses apply when I transition from financial advice to financial planning?
A: The good news is that non-compete clauses from your previous financial advice business don’t apply when you transition to financial planning. Why? Because financial planning is not considered a regulated financial services activity under the Financial Services and Markets Act (FSMA) 2000. This means you’re free to offer holistic financial planning services, and in fact, your new service can complement what the new owners of your former financial advice business are offering.
Here’s why: many consolidators focus primarily on managing investments and servicing assets under management. As a result, they often place little emphasis on the deeper, personalised conversations about clients’ life goals—the very heart of financial planning.
Your former clients may miss the valuable discussions they once had with you about their lives, aspirations, and holistic financial well-being. When they come looking for that personal touch again, you’ll be there to offer it without needing them to move their investment portfolio. The client can keep their portfolio with the new owners and still engage you for the financial planning conversations that truly matter to them.
So, you’re not in competition—you’re actually filling a gap. Your former clients will likely appreciate having someone who knows them and their goals, focusing on their broader life picture, while the new owners handle the investment side of things. This way, everyone benefits!
Q: How does Professional Indemnity (PI) insurance differ for financial planners compared to financial advice firms?
A: The key difference lies in the nature of the services being offered. Financial advice firms are responsible for making specific product recommendations, which means they are held accountable for the performance and suitability of those products. As a result, their PI insurance premiums are often sky-high—typically in the range of tens of thousands of pounds per year.
On the other hand, financial planners focus on offering holistic life and financial planning services without recommending specific products. This distinction significantly reduces the risk involved, and as such, PI cover for financial planners excludes regulated activities. The result? PI insurance premiums for financial planners can be as low as £300 per year, and that even includes public liability insurance.
This makes financial planning not only a less stressful and more client-centred profession, but also much more affordable in terms of ongoing business costs. You can deliver excellent, value-driven services to your clients without the burden of hefty insurance premiums hanging over you. It’s another reason why transitioning to financial planning is such an attractive option for those looking to create a more balanced, rewarding, and sustainable career.
Q: How is financial planning different from financial advising?
A: Financial planning is all about focusing on the client’s whole life, not just their assets. It’s a holistic approach that looks at human capital development, life planning, and financial well-being. Unlike financial advising, which often centres around recommending specific products, financial planning is about guiding clients through their financial and personal goals without the pressure of product sales.
Q: Will I still be able to use my professional titles and accreditations if I’m no longer an FCA-regulated adviser?
A: Yes! We’ve worked closely with professional bodies like the CISI and CII to ensure you can retain your accreditation and titles without needing to be on the FCA register for your Statement of Professional Standing (SPS). You’ll continue to be recognised for your professionalism, while focusing on what truly matters—helping clients achieve their goals.
Q: How soon can I expect to be up and running with my new financial planning business?
A: We can help you set up your financial planning business in as little as three months. This includes everything from building your website and CRM system to training in life planning and AI integration, so you can operate efficiently without needing a large team. Most members report breaking even by month two, with minimal start-up costs.
Q: I’m worried about losing income. Can I still make the same money as a financial planner?
A: Absolutely! Many of our members have found that by focusing on fee-based financial planning, they’re able to maintain the same income levels, or even increase them. Because you won’t be burdened by product sales, high compliance costs, or expensive professional indemnity insurance, you’ll have more flexibility to offer value-driven services to your clients.
Q: I’m nearing the end of my career. Is this really a good time to start something new?
A: If you’re considering another decade of economic activity—whether full-time or part-time—this is a great opportunity to enjoy the next phase of your career on your own terms. Many advisers who have transitioned to financial planning report a better work-life balance, less stress, and greater satisfaction from helping clients without the pressures of traditional financial advising.
Q: How does The Academy make this transition easier for me?
A: We provide everything you need to succeed. From business setup, website, and CRM to training in life planning and human capital development, we’ve got you covered. We’ll also teach you how to integrate AI into your operations, making your business more efficient and reducing your need for administrative support. With The Academy’s support, you’ll have everything in place to focus on what you do best—helping clients.
These Q&As should help answer any concerns you may have and give you the confidence to take the next step towards a fulfilling, stress-free encore career as a holistic financial planner. For further details, visit our website.
Related Articles: Consolidators Are Killing Off Financial Planning: Is the Future at Risk?
Why Join the Academy of Life Planning?
At the Academy of Life Planning, we’re not just about financial planning; we’re about empowering you to lead a life of purpose, balance, and fulfilment. Whether you’re a financial professional looking to transition into holistic financial planning or an individual seeking clarity in your financial journey, the Academy offers the support and resources you need to thrive.
Our membership base is a testament to the expertise and professionalism within our community. 52% of our members hold a Level 6 qualification, such as a Bachelor’s degree or Professional Advanced Diploma. Another 24% are qualified at Level 7, holding a Master’s degree or equivalent postgraduate qualifications. This means that when you join the Academy, you’re surrounded by highly qualified peers who are dedicated to excellence in both financial planning and life coaching.
We also have a portion of members who hold Level 4 (20%), signifying they are equipped with industry-recognised professional diplomas. This range of qualifications ensures that our community fosters a collaborative environment where experience, wisdom, and innovative thinking intersect.
Here’s What You Can Expect:
- A Transformative Journey: We view financial planning as more than just managing money—it’s about aligning your finances with your life’s purpose. Our holistic approach integrates financial well-being with your personal and spiritual goals, empowering you to live a balanced and fulfilling life.
- Expert Guidance: With access to cutting-edge tools, personalised coaching, and mentorship, you’ll gain the insights and skills needed to excel in holistic financial planning. We’ll help you stay ahead in a fast-evolving industry, ensuring you offer the best service to your clients or make the most informed decisions for yourself.
- Community of Growth: You’ll be part of a supportive global network of like-minded professionals and individuals, sharing experiences, ideas, and growth strategies. This collective wisdom helps you not just survive, but thrive in your career and personal life.
- Tailored Support: We understand that everyone’s journey is different. That’s why our approach is personalised—whether through one-on-one coaching or our bespoke training programmes, we meet you where you are and guide you to where you want to be.
By joining the Academy, you’ll be positioning yourself for success in a career that offers not only financial rewards but personal satisfaction. You’ll become part of a movement that prioritises ethical, client-centred planning over mere product-selling.
At the Academy, we are here to guide, support, and inspire you as you build a life and career aligned with your values and aspirations. Join us and take the next step in your transformation. Visit our website and subscribe to our community for free today, and checkout the benefits of membership here for just £19 per month (less than the cost of that weekly latte)!
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