While most IFAs recognise the importance of succession planning, many are delaying it too long, research from ValidPath has found.
ValidPath surveyed a sample of IFAs and found that while 77% believe having a succession plan is important, only 31% consider it 'vital' and 23% did not see succession planning as a priority for their business. The research also found that only 9% of IFAs currently treat succession planning as a central part of their business strategy; with this figure increasing to just 25% among those looking to retire within five years. Meanwhile, 36% of IFAs planning to retire in under ten years admit they have given ‘little' or ‘no' thought to their succession plans. Most (57%) IFAs believe that ...
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