Why a Financial Planning Side-Hustle is a Win-Win for Sellers and Buyers of Exited Financial Advice Firms

For seasoned financial advisers who’ve spent years building a successful boutique advice firm, there comes a time to consider stepping back. The idea of leaving behind the pressures of the FCA-regulated world—heavy compliance, liability, and endless red tape—can be an appealing vision. After years spent advising on products, many dream of retiring from regulation, surrendering their Statements of Professional Standing (SPS), and focusing instead on what drew them to financial planning in the first place: solving client problems, not just selling products.

However, there’s a common fear born from an industry-wide misunderstanding. Many advisers worry that stepping into a role as a holistic wealth planner—offering strategic financial guidance without product recommendations—might be seen as conflicting or redundant to the work of traditional advisers. But what if this misunderstanding is actually keeping everyone from a win-win scenario?

The Reality of Transition: A Gap in Client Service

For those considering the sale of their firm, there’s often a structured transition period. While it may be tempting to believe a “clean break” will help the process, the reality is different. When the old adviser steps out, many clients feel a shift. They’re accustomed to personal conversations and a focus on their unique lives, dreams, and concerns. Product-focused advice often doesn’t include these same, deep conversations—it focuses on the money. And for a client who’s been treated as the centre of the financial journey, being pushed aside for a “client is the money” mentality can be jarring.

The unfortunate outcome? Clients may feel disillusioned, frustrated, or simply disconnected. They may eventually leave for an adviser who still takes that boutique approach. The buyer of the firm loses clients, which directly impacts the final payment to the seller. The worst part? It could have been avoided.

Clients are Open to Paying for Holistic Wealth Planning—Even with an Adviser in Place

It’s a common concern: will clients really pay twice—once for product management and once for strategic financial planning? The answer, surprisingly, is yes. Many clients, especially those who’ve experienced the difference, value the guidance of a planner who has their interests at heart, without the influence of product sales. They’re open to maintaining an advisory relationship with their new adviser while also working with a fee-based holistic planner who knows their personal goals and life journey inside-out.

Financial planners stepping into this model are often met with gratitude. Clients appreciate having a dedicated professional guiding them without pushing products. The planners themselves report a new sense of purpose, unburdened by compliance pressures and able to focus on what they believe truly helps clients.

Less Compliance, More Clarity

As a holistic financial planner, you offer all the strategic expertise of traditional financial advice, minus the specific product recommendations. This shift reduces regulatory burdens, lowers compliance costs, and eliminates the need for costly professional indemnity insurance. Operating as a fee-paying planner lets you deliver value without the intermediated layers that drive up costs and create conflicts.

Creating a Win-Win by Bridging the Gap

Imagine this: as the seller, you don’t disappear from the client’s life but rather continue as their holistic planner, bridging the gap between your previous role and the new adviser. You stay engaged, providing continuity, and helping clients navigate their life goals. Meanwhile, the buyer retains a satisfied client, ensuring that your final tranche of payments isn’t compromised. It’s a win-win that adds value for everyone involved.

Holistic Financial Planning: A Fresh Approach for Retired Advisers

By choosing this path, you redefine your role while delivering real value to your clients and providing a seamless experience during your exit. Clients gain access to independent, non-product-driven advice that is fully focused on their personal wellbeing, free from the agenda of product sales.

So, as you approach this next stage, consider the possibilities. You may find that your clients are more than willing to welcome this model—especially when they realise it’s in their best interests. In the end, this alternative path may be the win-win solution for both sellers and buyers, ensuring clients remain at the heart of financial planning.

Questions & Answers

Q: Why would clients want both a financial adviser and a holistic planner? Isn’t that paying twice?

A: It’s a common question, and here’s the reality: clients genuinely see the value in having both roles in place. A financial adviser typically focuses on managing investments and recommending products, while a holistic financial planner helps clients with strategic guidance around life goals, transitions, and financial wellbeing. This approach keeps the advice free from product sales, meaning the planner’s only agenda is the client’s best interests. Clients value this dual support, knowing each professional brings a unique focus to their overall financial journey.

Q: How can I start offering holistic financial planning without conflicting with my old advisory firm?

A: Starting as a holistic financial planner is a smooth transition and actually supports your previous advisory firm by keeping clients engaged and satisfied. You’re not competing—you’re complementing. This arrangement provides a continuity that clients appreciate, as they have someone who understands their history and goals. Instead of focusing on products, you focus on their overall financial wellbeing and future planning. It’s a natural bridge from traditional advice to holistic planning, and clients see the benefit of this rounded approach.

Q: If I’ve sold my firm, how can staying on as a holistic planner benefit the buyer?

A: Buyers often worry that clients will leave once their trusted adviser exits. By staying on as a holistic planner, you maintain the relationship clients are used to, helping them through the transition to their new adviser. Clients feel supported, and the buyer retains a satisfied client, which directly impacts the success of the sale. It’s a win-win: clients don’t feel abandoned, and you and the buyer both benefit from a more stable client base. See: Could having a financial planning side hussle help with the succession of independent financial advice firms?

Q: What are the main advantages of becoming a holistic financial planner after retirement?

A: A holistic planner can help clients with strategic financial guidance without selling products, which means less regulation, reduced compliance costs, and the elimination of professional indemnity insurance fees. This allows you to focus on what matters most to you—your clients and their financial goals—without the pressure of meeting regulatory requirements. You get to enjoy the personal fulfilment of helping clients plan for the future while avoiding the challenges of the regulated space.

Q: Do clients really want financial planning that doesn’t involve product advice?

A: Absolutely. Many clients appreciate advice that’s free from product recommendations, as they see it as more personalised and unbiased. It becomes all about their goals, transitions, and what matters most in their lives, not just about where to invest. When clients experience this client-centred approach, they realise the unique value it brings to their financial journey.

Q: How can I explain this dual-service model to clients who are used to the traditional adviser model?

A: Clients appreciate a clear explanation of how each role serves their best interests. A financial adviser handles investment management and product selection, ensuring their assets are strategically positioned. A holistic planner, on the other hand, is there to focus on the client’s life goals, values, and broader financial wellbeing. This two-pronged approach provides a well-rounded experience that keeps their best interests at the forefront.

Q: I’m worried about the conflict of interest—won’t this cause problems with the new buyer?

A: This model actually prevents conflicts of interest, rather than creating them. The buyer continues offering their expertise in asset management and product-based advice, while you, as the holistic planner, provide guidance on broader financial wellbeing without the need to recommend specific products. This division of services supports a client-first approach, and both parties remain focused on what they do best. Buyers often find that it adds value to their firm rather than causing any conflict.

Q: Is holistic financial planning really sustainable as a business model?

A: Yes, and in fact, it’s becoming increasingly popular. With the financial industry evolving, many clients are seeking non-product-driven advice. They’re looking for guidance on life planning, transitions, and managing financial wellbeing—all areas where holistic planning shines. Many clients are more than willing to pay for this approach, especially once they see how it aligns with their personal goals without the influence of product sales.

Q: How can holistic planning ease the transition for clients being handed over to a new adviser?

A: Holistic planning offers a comforting continuity for clients. The focus is on guiding them through life changes, which allows them to experience a sense of stability even as they adjust to a new adviser. By keeping the relationship with you, their holistic planner, they feel reassured during the transition, which makes them more open to working with the new adviser. Clients appreciate the attention to their personal needs rather than just investment performance, helping them stay engaged with both services.

These Q&As aim to break down the benefits and address any hesitations, providing a clear and compelling case for the holistic planning model as a win-win for sellers, buyers, and clients alike.