Sandringham Financial Partners, an advisory firm based in the UK, has introduced a Partner Acquisition Programme for advisers looking to retire.
The service is aimed at offering minimal impact to the clients when their advisers retire.
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Under the programme, advisers have a two-year window to join Sandringham prior to their retirement to facilitate a smooth transition for their clients.
The advisers will secure 100% of the acquired business’ income at retirement along with ongoing income following retirement.
Ongoing income will be provided to the advisers over three years, starting with 75% in the first year to 25% in the final year.
Sandringham CEO Tim Sargisson said: “The sad irony of the advice profession is that many advisers spend their lives ensuring their clients are well-prepared to enjoy a financially secure retirement but fail to similarly prepare themselves.
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By GlobalData“This is perhaps unsurprising, given the current dearth of appealing options for an adviser considering retirement, many of whom must choose between a disruptive transition for their clients or a reduced remuneration package.
“The partner acquisition programme has been born out of the need to properly and fairly remunerate retiring advisers whilst also ensuring that their client relationships, which have been so carefully developed over the years, are properly protected.”
