HANDBOOK AND TEMPLATES
Listen to the introduction to Transitioning Clients and the Retirement Exit Decision read by Christine Timms.
The handbook contains three interrelated topics:
1) Seeking Group Referrals from Another Advisor
2) Transitioning Your Clientele to Your Successor
3) The Retirement/Exit Decision
The need to transition clients from one advisor to another advisor can be triggered by many different circumstances. An advisor will make group referrals to a successor advisor when they are retiring, reducing their clientele or changing their business model. The key to a successful transition of clients is compatibility between the successor, referring advisor and the clientele being referred. I believe this compatibility is more likely to be achieved when the successor and the referring advisor understand each other’s positions and business models. Reading all three topics will provide the reader with needed insight and understanding in addition to providing step-by-step processes and tools to complete the transition.
"Christine Timms, a seasoned financial advisor with a 30 year track record in the business, has shared in a succinct and timely way, all the secrets you need to know to successfully make your retirement transition. With checklists, templates, and carefully articulated steps, Christine provides the roadmap for sustaining a successful transition. Advisors would be wise to study this handbook and consider it their primary source of advice.”
Former Financial Advisor, 35 year veteran of the financial advisory business
Author of Rich Life- Managing Life and Purpose
Coauthor of Thriving Throughout Your Retirement Transition
Founder of Next Chapter Lifestyle Advisors
“My associate and I have found Transitioning Clients and the Retirement Exit Decision to be very helpful. Although we had done our own work prior in this area, the questions (steps of transition, choose your successor, contract, process of informing clients, final thoughts) acted as a “playbook” that we are further integrating. To us, it is providing more confidence we are addressing all areas and checking off everything. Having this organization will ensure nothing falls through the cracks. Your model provides additional confidence for a transition that will be successful for clients and ultimately all stakeholders.”
Financial Advisor for over 30 years
Chairman’s Club member
Big Five Canadian Bank owned brokerage firm
"Chris cared and continues to care about her clients - absolutely evident in her approach to her team and her solid plan for her retirement and the transition of her clients to the RIGHT advisors. The final proof is her successors’ very high client retention rate three years after her retirement.”
Senior management of a Big Five Canadian Bank
Eight checklist templates to help you articulate your business model. These are the same templates available under Business Models for Financial Advisors.
Checklist template to help you plan, organize and document the 18 step process of transitioning your clients to your successor presented in the handbook.
Checklist template to help you organize and compare potential successors based on the criteria presented in the handbook
Sample script for informing clients of your planned retirement and introducing your successor.
Sample client letter to reconfirm retirement details after all clients have been informed personally.
Note that some templates may not be exactly as pictured above or in the handbooks.