What are my retirement options?
As an agent, you have three options for your book of business once you decide to retire: You can pass it on (to a child, a coworker, associate, etc.), you can sell, or you can let the business run off.
What if I'm not ready to retire?
A Nationwide study found that 66% of financial professionals DON'T have a succession plan in place. Even if your planned retirement date is 10 years down the road, having a plan in place is crucial to helping you be prepared and to make the transition as seamless as possible.
How much is my book worth if I decide to sell?
It's a combination of your gross commissions and the state of your data. If your book of business is full of wonky, out-of-date information, or it's formatted incoherently, the value will quickly diminish. The buyer needs to be able to absorb your book quickly so they can start working it immediately.