Retired financial advisors consistently report that thoughtful succession planning plays a major role in their retirement satisfaction, according to Raymond James surveys conducted since 2018. 

One of the first key steps is identifying a successor early, whether through personal networks, firm support, or tech tools like Raymond James’ Practice Exchange. Once a successor is chosen, communicating the plan clearly and proactively to clients helps ease their concerns and ensures continuity in relationships. 

Many advisors delay these conversations due to anxiety, but regular updates build trust and allow clients to transition comfortably. Another often overlooked element is preparing mentally for retirement—knowing how you'll spend your time, whether it’s mentoring, traveling, or simply relaxing. 

Finsum: Ultimately, planning both the handoff and your post-career lifestyle is crucial to making your retirement both smooth and fulfilling.

Broadridge’s Fi360 has rolled out a new tool designed to help plan advisers and sponsors evaluate retirement income and stable value products with a more tailored, due-diligence-focused approach. The Retirement Product Evaluator, powered by CANNEX data, enables users to customize assessments across 60 criteria, allowing them to prioritize features based on the needs of a specific plan or participant base. 

With interest in retirement income rising—90% of large institutional clients now rank it as a top plan design priority—the tool aims to meet growing demand for clarity and transparency in annuity evaluation. 

Unlike mutual fund scoring tools, this evaluator avoids rigid scoring and instead invites a deeper, more nuanced analysis given the complexity of the products involved. While adoption of in-plan annuities remains low due to fiduciary and recordkeeping hurdles, Broadridge hopes its tool can demystify options and boost comfort levels among plan sponsors. 

Finsum: Already in use by major firms, the evaluator reflects an industry shift toward equipping retirement plans with tools for both income generation and long-term stability.

While it’s often said that changing broker-dealers results in losing 30% of your client book, the actual retention rate depends heavily on where you're leaving from, where you're going, and how the transition is handled. Advisors moving from banks to independence often do face steeper losses, due to legal and structural barriers, while those shifting between independent broker-dealers typically experience much smaller attrition. 

The key to maintaining client loyalty lies in how the move is communicated—clients are more likely to stay if they understand how the switch benefits them, not just the advisor. Advisors should frame the conversation around enhanced service offerings, broader product access, reduced fees, or improved technology and stability. 

A real-world example saw one advisor retain 98% of clients by clearly articulating these benefits during a move from a failing firm to a more robust platform. 

Finsum: Ultimately, when advisors lead with client-first messaging, transitions can not only preserve but even grow their practice.