“Raising succession standards across the financial planning profession”

THE SUCCESSION CHALLENGE

Succession is one of the most significant events in the life of a financial planning business and has long-term implications for clients, employees and the wider profession.

There are a range of succession routes, none of which have a set of minimum standards and largely are governed by negotiation, custom and commercial pressures.

This lack of consistency has led to a number of wellrecognised challenges, including:

Poor transparency and disclosure
A lack of internal succession options forcing external sale
Misaligned incentives between buyers, brokers and sellers
Inconsistent treatment of clients during and after transactions
Variable deal quality and outcomes for sellers
Pressure on the FSCS

OUR AIMS

Sector Leadership
Providing clear leadership on succession across the financial planning profession.

Profession-Led Standards
Establishing shared expectations for what good succession looks like.

Better Client Outcomes
Promoting transparency, fairness and accountability in every ownership transition.

Education and Insight
Equipping buyers and sellers with the knowledge to make informed decisions.

Constructive Engagement
Working with professional bodies, policymakers and regulators to improve alignment.

Trust and Stability
Strengthening confidence in the profession through planned, well-governed transitions.

GET INVOLVED

Want to get involved in raising standards in succession?

Email ben.wright@consumerduty.org to discuss volunteering or sponsorship opportunities.

Keep up to date

Follow up on LinkedIn here to be part of the conversation

In association with our Founder Sponsors

FinancialSolutions logo SA Perspective logo SA BM logo SA quilter logo SA

ABOUT THE SUCCESSION ALLIANCE

The Succession Alliance launched under the banner of the Consumer Duty Alliance in March 2026 to improve the quality, consistency and professionalism of succession in all forms across the financial planning profession. Its purpose is to bring together a representative group of industry participants to identify good practice, address poor market behaviours, and develop profession-led standards that improve succession outcomes for business owners, their team and clients.

The Succession Alliance Board is chaired by Ben Wright, Chief Innovation Officer at Melo. Find out more about the Succession Alliance Board.

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