How do you protect yourself in the handover phase as you lead up to succession or sale?

You’ve got to start handing over client relationships at some point and you certainly can’t wait until the exit date to get moving. Yet it’s a high risk move and many have been burnt on this one before.

So what do you do?

There are three strategies that have to be in place to ensure you’re safe:

1. Build an effective team based approach that sees everyone involved in the business touching the client as their part of the process gets delivered. Not only does it create security for you the owner, but it ensures all team members do the work that only they can do, generating huge productivity benefits.

2. Set out your time frames and stick to them. Don’t do succession planning over 10-15 years; it’s too long. Set a much shorter time frame and then work to deliver it! This provides a serious incentive for your successors or buyers to commit.

3. Get a financial commitment in place as early as possible. I’m not talking about golden handcuffs per se, because I think this is overused as a blunt instrument in trying to create loyalty. Loyalty comes from mutual trust and commitment to a shared cause (remember the values we discussed in my last email?). However, a little bit of “hurt money” in the form of a financial commitment from your successor or buyer helps generate the mental and emotional commitment you are after. Alternatively, pressing for it opens up the whole can of worms of reasons why someone isn’t prepared to commit. Better to find that out early in the process, not late.

At our workshop on Tuesday 8th March we’ll show you how to hire, train, incentivise and develop your future successors so that your plans stand a far higher chance of success.

Countdown To Succession Or Sale
what it looks like & how you make it work

A One Day Workshop

Who is this for?

• Owners and managers of financial planning firms;
• Potential successors within existing firms;
• Anyone looking to maximise the value of their business asset.

What is your investment?

• There are five quick off the mark places at £295 plus VAT: SOLD OUT
• There are another five early bird spots at £345 plus VAT: SOLD OUT
• All other tickets are still great value at £395 plus VAT: STILL AVAILABLE

Coming with a friend or colleague?

Multiple Attendee Pricing

• 2 attendees £690 plus VAT: STILL AVAILABLE
• 3 attendees £985 plus VAT: STILL AVAILABLE

Click here to secure your spot!