Who We Are
Did you know the average age of the independent financial advisor is 59?
Over 80% of those practice owners don’t have a transition/succession plan. With over $2.5 trillion in assets controlled by advisors in their 60’s and a lack of industry focus on growing next generation talent, the independent financial services industry is headed towards the perfect storm. Advisors aren’t planning either because they don’t want to retire or can’t retire because their lifestyle is largely cashflow dependent. For those advisors that do want to plan, they find the process far too difficult and there is no easy way to find an adequate buyer. The result is advisors and their financial institutions are in jeopardy of having their existing clients walk across the streets to the banks. So how can company motivate its advisors to care about transition without implementing policies, creating friction and frustrating independent advisors? How can we defrost this largely frozen marketplace?
The answer is FindBob. We’re a venture backed startup based in Richmond Hill, Ontario that makes it easy to buy & sell a book of business. It’s a win-win: financial institutions protect existing assets & generate new revenue streams, while advisors maximize the value of their most precious asset: their Book of Business – hence our name :-)