Advisor retirement programme launched by Sandringham

Sandringham Financial Partners has announced that it has started up a new scheme designed to enable advisors to retire with the least possible disruption to their customers.

It is called the Partner Acquisition Programme and two of the advisors employed by Sandringham are already signed up to it. Under the terms of the programme, these advisors continue to receive a fee up until and after they retire from their positions, but they have to commit to a period of two years between signing up to it and officially stopping work. This period is meant to be used to let clients know what is happening and allow them to prepare for it.

Clients in this position benefit from the scheme because it ensures that their assets can be kept in the same place whenever possible, limiting the problems involved in moving their portfolios to mandated investment solutions after their advisor retires.

When they actually retire, those advisors who are part of the programme will get 100% of their income and this is supplemented by additional payments of 75% in the first year after retirement, 50% in the second year and 25% in the third.

Tim Sargisson of Sandringham said that the purpose of this scheme was to ensure that advisors were able to plan for their own comfortable retirements as well as to reduce the problems for their clients when they stop working.

Just as CeMAP training courses help advisors at the start of their careers, this scheme could help at the end of them.


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