A principal thinking at her laptop

Your step-back readiness check

Twelve questions about your firm

01

Your clients could name a second person at the firm who knows their situation.

02

Every client has had a documented review in the last 12 months.

03

Suitability evidence would survive a file review without you explaining it.

04

Ongoing advice fees are on a written service agreement each client has seen.

05

You know which clients are unprofitable, and have decided what to do about them.

06

Less than a quarter of recurring income sits with your ten largest households.

07

Somebody other than you can run a client meeting end to end.

08

The back office would carry on for a fortnight if you were unreachable.

09

Client data is in one system, current, and could be handed over cleanly.

10

You have a written view of what the business is worth and how you reached it.

11

Your team knows, in outline, what your intentions are.

12

You have a date in your head, even a rough one.

What a buyer looks at

A buyer looks at the share of clients who would stay once the principal leaves: whether clients know a second person at the firm, whether the file stands up without explanation, and whether the back office runs without the principal.

Under Securo, compliance, paraplanning and administration move to Equity & General while you keep advising.

What your practice is worth

A junior colleague taking a principal through a client file

Guides on getting the firm ready

Talk to Steven Bates about Securo

Steven Bates, Director of Advisory at Equity & General, takes the first call with every adviser. Ring him on 020 8396 0486 or send a short note about your firm.