When his third grandchild was born, Bill found himself wishing he had more free time. After 30 years in the financial services industry, his practice had almost 200 households and demanded a lot of his time. He loved being an advisor, but his new favorite job was picking up his oldest grandson from kindergarten. Bill needed a plan that would allow him to stay involved and work on the cases that challenged and interested him most, while freeing up time to pursue a different kind of success in his own second half.
The most important thing on his mind was ensuring his clients would be taken care of as he began cutting back his hours. Bill met Dave, an advisor in his early 40s at an industry event in their region, and the two of them quickly realized how much they had in common even though they worked for different organizations.
Together they created a plan that would utilize Bill’s strengths in managing relationships, while allowing Dave’s team to help with day-to-day work like updating the financial plans. Bill decided to continue work as the primary advisor with 50 of his favorite clients and transition the rest to Dave and his team. This transitional phase allowed Bill to reassure these clients that he would be around to answer questions, while Dave’s team would take over the day-to-day oversight for their households.
Bill is now enjoying his new-found freedom. One year into his five(ish) year plan, he has time to be involved with his grandkids, and he enjoys the flexibility to travel the country with his wife, Linda. He enjoys spending his days the way he prefers, all while maintaining the peace of mind that his clients’ futures and the legacy he built are secure.
Like Bill and Linda, you deserve to experience a smooth and thoughtful transition from your successful career to a significant second half. Vector Wealth Strategies can be the business successor you need.