Most financial professionals (53.8 percent) don’t have an exit plan in place. And more than 8 in 10 of them don’t plan to retire or sell their practice within the next 1 to 5 years.
The source of these figures: an informal poll a colleague and I conducted of independent advisors attending an evening reception on Sept. 7 in San Diego. Hosted by the National Association of Insurance and Financial Advisors at its annual meeting, the gathering afforded me and my fellow pollster — Vanessa De La Rosa, an associate editor at sister publication ProducersWEB.com — an opportunity to elicit the views and plans of 60-plus NAIFA members.
Here’s a visual recap of our findings from the poll.