Where to Sunset: Choosing the Right Firm for Your Legacy
By Rich Bursek, President and Partner
As a financial advisor approaching retirement, choosing the right firm to transition your clients to is one of the most important decisions you’ll make. Your legacy is built on years of trust, relationships, and expertise, and ensuring that your clients continue to receive the level of service they expect is paramount. But how do you determine which firm is the right fit for your final career move?
Below are four key considerations when selecting your last firm before retirement:
1. Flexible Transition Plans
Every advisor’s transition is unique. Some may want to gradually step back, while others prefer a more structured exit.
Look for a firm that offers customized transition plans tailored to your timeline and preferences. The right firm should provide a seamless process that prioritizes both your needs and those of your clients. If maintaining a voice in investment decisions or mentorship is important to you, consider a firm that provides opportunities for continued involvement.
- What transition plans does the firm offer and how flexible are they?
- Does the firm have an advisor committee for retired advisors?
- What opportunities are there to stay involved with aspects like client service, investment strategy, and advisor mentorship?
2. A Top-Notch Client Service Team
Your clients deserve to be in good hands (and not just your hands).
Seek out a firm with a strong, experienced advisory team that will maintain the high level of care and personalized service your clients have come to expect. A firm that prioritizes deep client relationships, proactive financial planning, and responsive communication will help preserve the legacy you’ve built.
- Does the full team share your sense of urgency to respond to client needs?
- Is everyone on the team ready and willing to share their specific areas of expertise with you and your clients?
- Are others within the firm able to dedicate the time to build meaningful and supportive relationships with your clients?
Your clients should feel confident that it’s not only you who has their best interests at heart, but the entire firm, including long after you retire.
3. Firm Stability and Long-Term Security
The last thing you want is to transition your book to a firm that doesn’t stand the test of time.
Evaluate a firm’s financial stability, reputation, and leadership to ensure they’ll be around for the long haul. A well-established firm with a history of thoughtful growth and sound management provides peace of mind that your clients will remain in capable hands. Some questions to ask include:
- Does the firm have plans to sell in the near term?
- Are the founders eyeing an exit?
- Is there significant private equity backing the firm?
All of these are signs that the firm may not have the longevity that you and your clients desire.
4. Alignment of Values and Culture
A successful transition isn’t just about logistics—it’s also about fit.
Consider the firm’s values, mission, and culture to ensure alignment with your own professional philosophy. A firm that shares your approach to client service and investment strategy will make for a smoother transition and a stronger client experience.
- Does that culture carry through to everyone in the firm?
- Do they “walk the talk” of the firm’s culture, or is it just a clever recruiting tool?
Trust your gut when it comes to culture.
Leave a Lasting Legacy
Choosing where to sunset is about more than just finding a firm to take over your clients—it’s about preserving the relationships and reputation you’ve built over the years. The right firm will offer a flexible transition, a structured handoff, a strong client service team, stability, aligned values, and, if desired, opportunities for ongoing involvement. Taking the time to find the right fit ensures your clients and your legacy will continue to thrive long after you are enjoying a well-deserved retirement.
Are you an advisor who’s looking to sunset? Contact Certuity to explore your next move.