Building a successful business is the fulfilment of a dream for many individuals. But when the time comes to hand that business over, success can be measured in two ways; realising the true value you’ve created and ensuring the clients of the business are looked after.
Over the past 30 years, St. James’s Place has perfected a Business Sale and Purchase model that does both of those things. It reflects the fact that clients are the heart of every business and that client relationships are often fostered over several decades. So when it’s time to release capital value, advisers will want and need to ensure their clients continue to enjoy the same high-quality service, without any disruption to their plans.
As well as providing the ideal solution for you and your clients, we also understand it’s important to leave you in control. You decide how soon and how quickly you hand over your business to other advisers and realise the value of your hard work. It has always been a part of our DNA to make sure that there is an opportunity for our advisers to create future capital. Our solution has resulted in business value of over £1.4 billion changing hands, making it the largest capital creation vehicle in UK wealth management.
Over the past five years, more than 350 advice professionals have aligned their business with SJP, from both directly authorised and network backgrounds. Why? Because joining the SJP adviser community will enable you to continue to deliver a quality service to your clients, reduce risk and liability in your business, and achieve certainty on exit with a strategy you believe in.
After reviewing his retirement options, Stuart Shearer, Director of Tailored Solutions Wealth Management, decided to align his business with SJP. As a business owner, it was important for Stuart to be in control of his exit strategy
“It has been brilliant to watch my business grow in value. I know with absolute certainty that my clients are in good hands and that my team supporting the business will keep their jobs. Over the next two years, we’ll meet the clients and transition the rest of the business across to their new adviser - a process supported by SJP. I would never have had this opportunity as an IFA. I would’ve had to sell my business to someone I probably didn’t know. I’m now confident my clients will be in great hands and looked after in the future. The business name is going to continue. I just won’t be there anymore. I can now relax and enjoy retirement, knowing that I’ve fulfilled my career goals.”
Stuart Shearer, Director of Tailored Solutions Wealth Management
Handing over a business you’ve built can be emotionally challenging. However, as our financial advisers tell their clients, “Financial decisions should not be anchored in emotion and sentiment”. It is crucial to have a clear, well-defined plan.
Think of your exit strategy as succession planning or a means to smooth the transition into the next phase of your life. There are many different types of strategies you can choose to suit your specific needs.
The same happens when building a house. An architect starts by creating a design, which is handed to a builder to construct. They’ll then pass the project on to a decorator to add the finishing touches. Each individual is an expert in their field and will want to get their part of the process right.
You don’t want your architect to take on the job of building the walls or decorating them. The same applies to your financial advice business. It’s likely that there’ll be more than one individual who is the right person to take forward and evolve your business.
When thinking about your exit strategy, it’s vital to get an accurate business valuation. It’s wise to have your own team of dedicated, professional experts in key areas such as contracts, legal and HR consultancy to provide support and advice.
This will enable you to take steps in the right direction to execute your exit strategy effectively. At SJP, this comprehensive range of support is already on hand.
With St. James’s Place, you can trust in our robust, all-encompassing processes, developed over many years and hundreds of business exits.
You are guaranteed support from a team of experts, who can ensure that every option is explored, every factor considered, and every decision made before you choose to exit. With a transparent plan you can trust, we provide complete peace of mind for you and your clients.
If you’re a financial adviser with your own business and are beginning to consider your exit strategy, we’re here to help.
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