Imagine this: owning a financial planning firm where you do what you love every day—helping people solve life’s problems and live their best lives. A practice free from the hassle, constraints, or high costs of running a regulated product intermediation business. You focus solely on what truly matters: making a difference in people’s lives.
That favourite future sounds wonderful, doesn’t it? So, what’s stopping you?
For many regulated financial planners dreaming of an encore career, the biggest barrier is knowing how to get from where they are now to where they want to be. Specifically, how to exit their current regulated firm in a way that maximises its value while ensuring their clients are well looked after.
Getting a regulated firm ready for sale can be a complex and time-consuming process, often taking a couple of years to execute. However, with the right plan and support, it is possible to navigate this transition smoothly and successfully.
Common Obstacles to Your Favourite Future
Let’s explore some of the challenges you might be facing:
- Uncertainty About the Selling Process
You’ve built a business that represents years of hard work and dedication, but the prospect of selling can feel overwhelming. How do you find the right buyer? What’s the best way to prepare your business for sale? - Maximising Business Value
Ensuring your business is attractive to potential buyers and securing top value requires careful planning. How do you identify and address areas that need improvement? - Client Care During the Transition
You want to ensure your clients are in good hands after the sale. How do you find a buyer who shares your values and commitment to client care? - Time Constraints
Running your business while planning its sale and preparing for your next career move can feel like juggling too many balls at once. How do you balance it all?
A Path Forward: Solutions and Action Plan
Here’s how to overcome these obstacles and start moving towards your dream career:
- Start Early
The earlier you begin preparing your business for sale, the better. Ideally, give yourself at least two years to plan and execute your exit strategy. This allows time to address any issues and position your business for maximum value. - Seek Expert Guidance
Partnering with experienced professionals can make all the difference. They can help you navigate the selling process, optimise your business value, and ensure a smooth transition for your clients. - Define Your Goals
Be clear about what you want from the sale. Is it maximising financial value, finding a values-aligned buyer, or freeing up time to pursue your next venture? Your priorities will guide your decisions. - Leverage Support Systems
You don’t have to do this alone. The Academy of Life Planning can help you start your next business, and our partnership with Catalyst Partners ensures you have expert support to exit your current one.
Introducing Catalyst Partners
To help you realise the full value of your business and ensure a successful transition, I’m proud to partner with Roderic Rennison, Partner at Catalyst LLP. Catalyst Partners is the premier provider of bespoke merger and acquisition services for the Financial Planning and Wealth Management sectors.
With decades of experience in financial services, Roderic brings invaluable expertise in acquisitions, integrations, governance, and compliance. His approach is tailored and client-focused, ensuring that you receive the guidance you need to achieve the best possible outcome.
As Roderic explains:
“Catalyst’s “sweet spot” are IFA firms with at least £500,000 of recurring income and say £75M of assets, and the larger the better; some of our current mandates are with firms with assets well north of £250M, and we are good at helping larger firms with “challenges”, for example, Defined Benefit Transfers. That said, I have reached a point in my working life where I am happy to have a call with someone who is smaller if they need help to try and act a sounding board and give them a steer if that also helps you. In terms of timing, the earlier the better in the process. The ideal time is from say two years before the firm wants to sell so we can help them plan and have the best chance of a successful outcome.”
Let’s Talk
If this sounds like you and you’re ready to take the next step, or even if you’re just exploring your options, let’s have a conversation. Together, we’ll explore your goals and create a plan that feels right for you.
Book a free, no-obligation call with me at a time that suits you. Let’s talk about how to move from where you are now to where you want to be.
Your dream of owning a business that aligns with your passion and purpose is within reach. Let’s make it happen, together.
Academy of Life Planning 