Moonstone Monitor: Alternatives to selling your practice

Possibly the most common option is to gradually involve a successor, normally a relative, into the business. This has many obvious benefits, not least of which is to allow you to retain the character of what you have built up over years, while sharing in the success thereof.

This option is regrettably not available to many, and selling is often something done grudgingly, given the relationship you have built up with your clients, and the pride in what you have built up, not to mention the potential income you stand to forfeit.

We had many enquiries on this subject over the past few years, and have done a fair amount of research into workable alternatives. Our purpose was to find options that would be most beneficial to you in the long run, and the end result was what we termed the Moonstone Value Partner concept.

Essentially this entailed investigating service providers that could do two things:

• Take over your client base in terms of the products you market and/or
• Provide additional revenue streams to you from business that you are not licensed to advise on.

In our discussions we made sure that your interests were catered for in the contracts to be negotiated. Most of these service providers offer various levels of involvement from your side, giving you the option to withdraw gradually from the business without losing your full financial interest in and personal contact your client base.

The Moonstone Value Partners provide a wide range of services across the full spectrum. For more details, please click here to visit the relevant page on our website to see the kinds of services available.

You are of course welcome to source your own partners; we have done a degree of due diligence, and also provide compliance services to virtually all of the partners listed on our website.