What is the best way for a young financial advisor to partner with an older advisor who is looking to retire?
I am a young financial advisor (currently studying for my CFP credentials) and I am very interested in partnering with another individual who has an existing practice (book of business) and is eventually looking to retire in the future. Right now there is a large demand by older financial advisors who are looking to partner with young advisors who will help them grow the business and eventually take it over upon retirement. I haven't found any good locations on the web (or live) to find these individuals or even places where I can learn more about this (i.e. blogs, chat rooms, etc.). If anyone has any information about doing this, please let me know. Are there any websites or chat rooms where advisors are currently partnering up with younger advisors?
Public Comments
- Start by opening the phone book and making calls. You have to be willing to learn. make your pitch to them. keep calling until you find one. Don't give up
- You need to find out what area you want to be in and you need to call and set up face to face meetings. You need to find out his needs and if his current practice suits your desires as well... Most are going to be looking for someone with some experience so for now get an internship with a big company for experience. You are going to need to go in there with a game plan that shows this guy why you are a better choice than others and what you plan to add to the practice. Its a hard industry and connections are very important!
- Earn your stripes. Do well on your CFP courses and make wise choices investing as you gain a clientele. Then you can promote yourself on that basis within the realm of other CFPs. Look them up in an association locally. The Muse
