How to succession-proof your advice firm

Thousands of younger people in Britain will suddenly come into a lot of money, and they will need help in investing it tax-efficiently and in line with their ethics and values.

But if your clients are happy to recommend you to their children and grandchildren, what measures have you put in place to make sure that the advice journey these younger clients start with you will also end with your firm? Will they stay the course or jump ship?

And how can you make sure that you capture that audience in that first place? Tim Fassam, director of government relations and policy for Pimfa, Giles Dunning, partner at Stephens Scown, and Shaun Godfrey, head of marketing at St James's Place, discussed these issues with Simoney Kyriakou, editor of Financial Adviser, on the latest FTAdviser podcast.

Moreover, the panel urged change within the industry. They called on financial advisers to think harder about how to start attracting into the sector the kinds of staff that will speak to a wider potential demographic of clients. 

All of this succession planning for the client, they told FTAdviser, would help their own firms: a virtuous circle.

The FTAdviser Podcast is the weekly podcast for financial advisers, brought to you by FTAdviser.com. Each week, FTAdviser is joined by guests from the industry to discuss the week in news and pressing industry issues. 

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