How Securo runs, stage by stage
The four stages are joining, reconnecting with legacy clients, handing over gradually and the exit. You set the pace at every stage, and the exit floor is agreed in writing before the first one starts.
The four stages are joining, reconnecting with legacy clients, handing over gradually and the exit. You set the pace at every stage, and the exit floor is agreed in writing before the first one starts.
Your clients see the same adviser and the same firm. Compliance, paraplanning, administration and infrastructure move across to Equity & General, and your team’s position is settled in writing.
The exit floor is agreed before anything starts. Joining then takes weeks, and the work is regulatory permissions and moving data across.
Trainee advisers work through the legacy relationships that went quiet. They reconnect, update the files and get reviews back onto an annual cycle, then hand each client to you or your team for the advice.
You decide who they approach and in what order. This is the longest of the four stages, and it has the largest effect on the valuation.
Your clients meet the adviser who will look after them next while you are still in the room, at the pace you set.
Under Securo the handover takes three meetings over about a year. These meetings decide whether a client stays with the firm after you have gone.
You choose the date. Equity & General acquires the assets under management at no less than market value, on the floor agreed at the start, with the structure shaped around what you want the following year to look like.
If terms cannot be agreed, your clients are novated to a host of your choosing.
How the exit is agreed
Under Securo every client has met the next adviser before anything is sold.
On the phone, or at your office if you would rather. He asks roughly what you manage, the ages and fee levels of your clients, who is in the team, and when you would like to stop.
The exit floor of no less than market value is agreed in writing, and your team’s position is settled.
Regulatory permissions and the move of your client records take a few weeks. Your clients see the same adviser throughout.
Each at the pace you set, with your stage and your tasks visible on the Securo platform.
Steven Bates, Director of Advisory at Equity & General, takes the first call with every adviser. Ring him on 020 8396 0486 or send a short note about your firm.