Joys of being a retiring IFA and selling your IFA Business
For retiring IFAs, selling your IFA firm can be one of the hardest decisions you will ever have to make, but never underestimate how incredibly liberating making the decision can be. Thinking of the happiness to come in being a retiring IFA, can also be a driving factor in the IFA sale process.
Imagine the conversation:
You: You know, I've been thinking lately about whether to sell my IFA firm. I wonder what kind of joys I might find in the process?
Truestar Legacy: Hey, planning your IFA retirement can open up a whole new world of joys. One of the biggest pleasures is the financial security it can provide. Imagine having a substantial amount of money from the sale, which can give you a sense of stability and freedom to pursue your dreams. It's like a weight lifted off your shoulders, isn't it?
You: Oh, definitely! That financial security would give me peace of mind and the opportunity to explore new possibilities
Truestar Legacy: Exactly! And speaking of new possibilities, another bliss of planning your exit strategy is the chance to embark on new adventures. With the weight of the red tape of managing a business off your shoulders, you'll have more time and flexibility to pursue your passions and interests. Whether it's traveling, starting a new venture, or spending quality time with loved ones, the world is your oyster!
You: That sounds amazing! I've always dreamed of having more time for myself and my family. Being able to focus on what truly brings me joy would be such a gift
Truestar Legacy: Absolutely! And let's not forget the joy of personal growth and development. Selling your IFA firm, whether you decide to sell and go, or sell and stay, can provide you with an opportunity to explore new horizons. You can invest in your own professional development, pursue further education or training, or even dive into a completely different career path. The journey of self-improvement and growth can be incredibly fulfilling
You: I love that idea! It would be so fulfilling to continue learning and growing, even after selling the business. I could explore new interests and expand my skillset
Truestar Legacy: That's the spirit! Another joy of selling your IFA business is the sense of accomplishment that comes with it. Building a successful business takes dedication, hard work, and expertise. When you finally sell it, you can look back and see how far you've come. That feeling of pride and satisfaction is truly priceless
You: I can imagine that sense of accomplishment would be incredibly rewarding. Knowing that I built something valuable and then being able to pass it on to the next generation would be a special moment
Truestar Legacy: Absolutely! And last but not least, becoming a retiring IFA gives you the joy of freedom and independence. You'll no longer be tied down to the daily demands of running a business. You can create a lifestyle that suits you, with more control over your time and choices. It's all about designing a life that brings you joy and fulfilment
You: That's the dream! Having the freedom to live life on my own terms and pursue what truly matters to me is what I've always wanted
Truestar Legacy: It sounds like you have a clear vision of the joys that selling your IFA business can bring. Remember, these joys may vary for everyone, but it's important to embrace the possibilities and make choices that align with your dreams and aspirations. Not to mention the joy you will experience in finding a happy new home for your valued clients
The World is your Oyster
“Joy” - repeated a lot in this conversation, but then isn’t that what life is truly about; making the most of every day. Pamela Ebstyne-King Ph.D. in her interview in Psychology Today, says:
“Joy is a core human experience, but we often don't understand
the true depth of its meaning in our lives.”
Wouldn’t it be amazing to have the time to investigate this, and see where it takes you?
Of course, if you need any help with this, at Truestar Legacy we are here to help you every step of the way. We can walk you through the different exit types and what meets the needs yourself and your clients best. Being whole of market, we can talk through different options with IFA firms, IFA acquisitions, IFA consolidators and more - its about the right home for your clients
Meet our team and see who you would like to help you
Check out one of our other blogs on this subject: Consumer Duty, worried about more red tape?
