Completion

Writing The Farewell Letter 

The retiring professional needs to announce their  retirement, and the acquiring professional needs to announces their new role.

Here are some statistics to guide your use of words and phrases clients prefer to hear when receiving this type of an announcement. 

Starting Your Letter

57% prefer to hear:

• “I write to you today with some important news...”

26% prefer to hear:

• “I am pleased to announce...”

17% prefer to hear:

• “I have some exciting news...”

the best reason for an advisor to announce their retirement

48% prefer to hear:

• “I'm approaching a new stage in my life.”

35% prefer to hear:

• “I want to spend more time with my family.”

9% prefer to hear:

• “I'm ready to find new opportunities.”

7% prefer to hear:

• “I've earned the right to retire.”

what clients want to hear when their advisor retires

79% prefer to hear:

• “On a personal level, I want to thank you for the privilege of serving as your financial advisor.”

21% prefer to hear:

• “Thank you for choosing me to manage your investment needs.”

Closing your letter

51% prefer to hear:

• “If there are any questions I can answer for you about this, please contact me by phone or email.”

37% prefer to hear:

• “Thank you for you trust and our time together.”

12% prefer to hear:

• “Thank you so much for the years and the great memories.”

Example to guide you through writing the farewell letter

Pay close attention to the bolded words as they ensure we’ve put the client at the center of the communication, described the acquiring financial professional’s skill set as an additive to the retiring professional’s practice, and minimized the change and disruption to your clients’ financial lives. 

“I wanted to contact you regarding some important news. As we have talked, I’m approaching a new stage in my life and after 25 years in the business, I will be retiring in the coming months. I am only taking this step because of the confidence I have in the hard work that you, Maria and I have done during our time together, and I firmly believe that you and your family are well positioned for the future.”

“We have all experienced the complementary skills that Maria has brought to our practice. Going forward, although Maria will be your primary contact, I will also be available if there are any questions I can answer. You will be in capable hands with Maria.”

“We have taken every step possible to make sure this is a smooth and seamless transition for you. On a personal level, I want to thank you for the privilege of serving as your financial professional. I hope that you and your family have felt cared for during our years of working together and wish you the very best.”

Announcing the acquiring professional’s New Role

Let’s move on to the acquiring professional, Maria, announcing her new role.  Here are some statistics on what words and phrases clients prefer to hear when receiving this type of an announcement. 

62% prefer to hear:

• “I know you have a choice in who you work with, and I want to earn your trust to make that choice easy for you.”

38% prefer to hear:

• “I'm honored that your financial professional entrusted me with your account, and I'm looking forwad to working with you.”