Tilney Smith & Williamson launches succession planning programme for retiring advisers

Tilney Smith & Williamson, the leading wealth management and professional services group, has launched a succession programme to give financial advisers approaching retirement the opportunity to provide a new home for their clients. The group is keen to talk to advisers who don’t have a succession plan in place and wish to explore bringing their client book to the firm to ensure an orderly and gradual handover of the relationships they have built up to a firm that will ensure that they continue to receive a high-quality, personalised service.

Research published in recent years has suggested the average age of financial advisers to be in their mid to late 50s. However, newly published-research* from Platforum has found that over half (54%) of advice firms’ owners said they had no succession plans at present, an increase from 41% in 2019.

The Tilney Smith & Williamson financial planning team now has circa 300 financial planners and the quality proposition is well-developed, allowing new advisers to join the firm. As well as the merger between Tilney and Smith & Williamson in September 2020, the business has successfully completed a number of smaller acquisitions, including Guildford-based investment and financial advisory firm HFS Milbourne, Index Wealth Management in the Midlands and the wealth management arm of Moore Stephens.

Richard Dawes, Head of Strategic Partnerships at Tilney Smith & Williamson commented: “We know financial advisers care about their clients – many of whom they count as friends – and will want them to find a quality home and put in place a succession plan as they themselves look to retire. Financial advisers understandably are already very busy providing financial planning services for their clients and so often don’t have the time to think about the long-term future of their businesses. Our new programme aims to take the stress out of succession planning and provide a great home for advisers and their clients.

“We are really well placed to help retiring advisers because of the breadth of our geographic footprint, the quality of our proposition and our commitment to bespoke services. Given the investments we have made in technology and our track record successfully integrating advice businesses in recent years, we have the experience and systems to make the handover process extremely smooth for advisers and their clients.”

Advisers interested in hearing more about the new programme should contact Richard Dawes by emailing richard.dawes@tilney.co.uk

*UK Financial Advisers: Market Overview, Platforum, September 2021