So much in life can take us by surprise, including today’s question: “my advisor has retired—what should I do now?” You might be asking yourself who you can rely on for support in this next chapter.

In this week’s Money Wisdom Question Series, Nicholas J. Colantuono, CFP® breaks down the avenues you can take if your advisor retires to ensure your financial plans don’t have to retire with them.

Continuity is Key

It’s not the ideal scenario to have your financial advisor retire before you do. An unexpected change to this relationship can evoke a real sense of disruption in your life. How do you find someone you trust to provide the same level of guidance and service? We’re here to assure you, there is a path forward.

First and foremost, it’s important to differentiate between the relationship you had with your advisor and the strategies they put in place for you. Your investment portfolio, 401(k) claiming strategy, tax-efficient retirement income plan – all those tools and solutions still exist. It’s now about transitioning them to another member of your advisor’s team, or perhaps to another firm.

Shifting within the Firm

An associate advisor or another member of your advisor’s team can help you continue the hard work you’ve already accomplished. It’s likely they have worked closely with your advisor and may have even sat in on past meetings with you.

Their familiarity with your financial goals and progress, as well as with the firm’s culture, allows for a seamless transition in support. Additionally, their unique background and experiences can provide new insights that may enhance your strategies moving forward.

Exploring New Avenues

Your advisor’s retirement could also be a blessing in disguise. If you’ve been considering making a change, for whatever reason, this could be a good opportunity to go in a different direction without having an uncomfortable conversation about it.

It’s also a chance to hit the reset button on what you’ve put in place, especially if you’re entering a new phase of life. If you’re looking for reassurance that you’re on the right track in your retirement journey, Johnson Brunetti is here to provide a fresh perspective. We believe everyone should have a solid plan for retirement – one that doesn’t retire when your advisor does.