Client acquisitions provide advisers with dignified departure

As those of the so-called baby boomer generation move closer to retirement, a growing proportion of the population will require professional input when it comes to social care and later life planning. Making up these numbers are professional advisers themselves, many of whom are approaching retirement and are in need of a reliable path when the time comes to exit their business.

In recognition of an ageing society and as part of its growth strategy, Foresight Estate Planning (part of the Insight Financial Associates group) has embarked upon a series of client acquisitions across the UK. Many of the clients collectively added will also require ongoing estate planning and financial services advice.

Transferring a business can be immensely complex, often involving considerations of ongoing professional indemnity and compliance, not least the financial considerations. John Heavens, Managing Director of Foresight has worked closely with Business Manager, Natasha Howard in order to facilitate the acquisitions. A number of tri-part agreements have been reached recently between the Institute of Professional Willwriters, Johnson Park McAndrew insurance brokers and the retiring business owners, in which the exiting Partner or Managing Director is able to enter into a client transfer option agreement (CTO).

Commenting on the high quality of service received by the group was David Smith. The former Managing Director of Three Shires Wills based in Oxfordshire highlighted the prioritisation of client experience alongside the business transition itself.

“It was very important to me that not only did I agree a mutually beneficial financial agreement but equally as important my clients being placed in good hands. The transition has gone very well and my clients have provided some very positive feedback about the arrangement and the service provided by the Insight Group of companies.”

Foresight Estate Planning continues to engage in additional negotiations with potential retiring business owners in the estate planning field.

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