Creating Your Own Exit Strategy: A Plan for the Unexpected
Every day is a gift, but what happens when that gift is suddenly taken away?
In the financial advisory industry, the topic of "Exit Strategy" is becoming increasingly relevant. Many professionals, particularly those who have been in the field for years, are approaching retirement. If you’ve been in the business for a while, you may notice a pattern: financial advisors tend to have gray or white hair, signaling that many of us are nearing the end of our careers.
However, retirement isn’t in the cards for me—at least not anytime soon. I’m passionate about my work. I wake up excited every day to engage with clients, team members and friends in the office. As long as they’ll have me, I’ll continue to show up.
That said, the question of "What’s your exit strategy?" is one that I encounter regularly. It’s even a requirement from some regulatory bodies that financial advisors outline exactly what will happen in the event of a disability, death, or simply a decision to leave the industry.
Rest assured, I have a plan in place. Should the unthinkable happen—whether that’s waking up to a new reality or simply deciding to step away (less likely)—I’ve made sure that my business will continue without disruption. The legal documents are in place to ensure The Financialoscopy® team carries on, adhering to our philosophy and the goals we’ve set for our clients.
Similarly, in the event of a disability, there’s already a formalized plan for how I would manage my duties. It’s something every professional should consider, particularly as we age. What happens if I can no longer perform my daily responsibilities?
Now, here’s the real takeaway: Everyone should have an exit strategy, whether it’s been formally planned or not. If you haven’t put together a will, a trust, or designated a power of attorney, your "exit strategy" might just be this - CHAOS.
I ask every new client I meet, "When was the last time you updated your legal documents?" More often than not, they hang their heads low because many haven’t reviewed or updated their legal documents in years—sometimes even decades, or they don’t exist at all. These important plans are often overlooked until it's too late.
That’s where we come in. While we’re not attorneys or accountants, we specialize in helping clients work with the right professionals to ensure they are living their best life today, and that their families are protected in the future. We want to help you create an exit strategy—one that guarantees peace of mind for you and your loved ones, no matter what happens.
It’s time to reach out. Let us help you create your own Exit Strategy.
