Transitioning/Retirement

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SUMMARY OF HANDBOOK

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.

TESTIMONIALS

"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.”

—Susan Latremoille

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.”

—Kevin Punshon

Financial Advisor for over 30 years

Chairman’s Club member

Branch Manager

Big Five Canadian Bank owned brokerage firm

“Christine’s book Transitioning Clients and the Retirement Exit Decision has been invaluable in providing guidance for how to successfully transition my clients to my chosen successors as well as how to inform my clients about my retirement. Christine’s practical suggestions, worksheets and scripts for how to deliver the news of my retirement have helped me proceed with confidence. I only wish that Christine’s book had been available four years ago when I started planning ahead for retirement and the transition of my practice.”

—Linda Hahn, CIM

Portfolio Manager and Senior Wealth Advisor for over 25 years

"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.”

—Wilma Ditchfield

Senior management of a Big Five Canadian Bank

Free templates and checklists

Steps Of Transition Timeline and Checklist

Checklist template to help you plan, organize and document the 18 step process of transitioning your clients to your successor presented in the handbook.

Choosing Your Successor Checklist

Checklist template to help you organize and compare potential successors based on the criteria presented in the handbook

Retirement Phone Call Script

Sample script for informing clients of your planned retirement and introducing your successor.

Formal Retirement Letter

Sample client letter to reconfirm retirement details after all clients have been informed personally.

TRANSITIONING CLIENTS AND THE RETIREMENT EXIT DECISION

introduction

table of contents