The need to transition clients from one advisor to another advisor can be, triggered by many different circumstances. An advisor will make group referrals to a successor advisor when they are retiring, reducing their clientele or changing their business model. This handbook contains three interrelated topics:
Part 1. Seeking Group Referrals from Another Advisor Part 2. Transitioning Your Clientele to Your Successor Part 3. The Retirement Exit Decision
The key to a successful transition of clients is compatibility between the successor, the referring advisor and the clientele being, referred. I believe this compatibility is, more likely to be achieved, when the successor and the referring advisor understand each other's positions and business models.
