News

6
Oct

Tilney S&W to take over books of retiring advisers

Tilney Smith & Williamson have launched a new service to ease the burden of succession planning for retiring advisers. Under the new succession programme, advice owners can ensure an “orderly and gradual handover” of their clients’ books as they begin to wind down and get ready for retirement.

Research 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 of advice firms’ owners have no succession plans. These statistics represent an increase from 41% in 2019.  

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 therefore 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, for instance, we have the experience and systems to make the handover process extremely smooth for advisers and their clients.”

Tilney Smith & Williamson has assets under management of nearly £55bn and employs 300 financial planners. The company formed from the merger of Tilney and Smith & Williamson in 2020.

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