Retire on a High Note: Transition Your Practice and Leave a Legacy

As an experienced financial advisor, you’ve dedicated your career to helping clients plan and prepare for what’s next. Now, as you think about retiring in the coming years, it’s time to apply that same knowledge and skillset to your own future. But ask yourself: will I be able to make a smooth transition for my clients—and myself—at my current firm?

If you’re an independent, it can be hard to find the right successor. At many large firms, you probably won’t have a say in who takes over your practice. That’s why it could be smart to move your practice to a firm where you can choose your successor, protect your legacy and secure your own financial future.

You’ve spent decades building relationships across multiple generations. Many of your clients and their families will need guidance beyond the typical advisor’s 35-year career. Leaving a legacy matters.

Maintain control over your transition

Joining a firm that respects and furthers your legacy will help make sure your clients are in good hands and you can retire on a high note. To do that, you need a comprehensive retirement transition program (RTP), rather than a piecemeal approach. That’s the RTP we aim to create for you here at Edward Jones.

Our RTP offers multiple benefits, from flexibility to generous financial incentives. We focus on the “whole advisor,” providing practical resources and peace of mind. An experienced fin
ancial advisor recently shared a scenario that resonated with me. He imagined running into a former client at the grocery store, where she told him how smooth the transition had been and how much she loved her new financial advisor.

A worthy successor and a supportive culture

The right successor will bring that scenario to life in your community. But finding that person could be challenging, especially as the advisor pool shrinks over the coming years. Recent research from Edward Jones and Cerulli Associates reveals that 38% of U.S. financial advisors plan to retire in the next decade, and 12% are still uncertain about whom they will sell or transfer their practice to. A 2025 McKinsey report further quantified the advisor deficit, estimating that by 2034, at current advisor productivity levels, the industry will face a shortage of roughly 100,000 advisors.

This potential industry shift coincides with the great wealth transfer, with $124 trillion expected to change hands through 2048, further heightening the supply-demand imbalance.

The ideal successor will be someone who shares your knowledge, dedication, communication style and values. Edward Jones partners with you to get to know potential successors and coordinate the transition.

A culture that supports your retirement transition is also key. A collaborative vs. competitive culture will give you the right tools and support. Our dedicated retirement transition team and execution specialists value experience and wisdom, and fresh perspectives.

The right practice model, supported by advanced technology

You should also be able to choose a practice model that works for you. We offer three options: teaming; a single financial advisor model; and a multi financial advisor office. It all depends on your client base and what suits them best. All three models, however, will provide continuity and a continued positive experience for clients.

They’ll be supported, also, by sophisticated technology. Technology is now a must-have for clients. In a survey we conducted with Morning Consult, 95% of investors believe it’s important for their financial advisor to use the latest technology. At Edward Jones, we are investing $1.5 billion in integrated technologies. We’ve empowered financial advisors and their clients with tools to make their practice more efficient, data-driven and personalized. Technology also makes the transition process smoother and easier.

Financial incentives and stability

One of the standout features of the RTP is its robust financial incentives – in fact, in April 2025, Financial Planning listed the firm as the number one firm for Best Advisor Pay for the $2M, $1M and $600K production levels and second for the $400K production level.

Proactive planning and the right partner can help you retire with confidence, secure in the knowledge that you have honored your clients’ loyalty and trust, and your legacy is a source of pride.

Are you considering retirement or simply want to explore your options? Learn more about Edward Jones Retirement Transition Program.

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