Independent financial advisers (IFA) see succession planning support as the greatest benefit that hiring an adviser would bring to their business, according to a study from ValidPath.

The IFA network noted that more than half of IFAs planned to retire within the next five years, highlighting the importance of having robust succession plans in place.

Its poll of member firms asked IFAs to rank the benefits of hiring advisers, with 16 per cent citing succession planning.

More than one in 10 (11 per cent) said the greatest benefit was the ability to attract new clients.

A fifth (20 per cent) of IFAs saw hiring one or more financial advisers as a key part of their growth strategy for 2026.

IFAs were also asked what would make hiring feel more viable, with 51 per cent stating they required greater revenue certainty before committing to hire new advisers, while 50 per cent wanted to see significant growth in the amount of funds under management.

Meanwhile, 55 per cent said that having access to an onboarding framework would simplify the appointment process, or make it more attractive, which ValidPath said demonstrated the crucial role modern networks can play in helping IFAs power growth.

As the end of the financial year approaches, 12 per cent of IFAs typically employed temporary staff to support other areas of the business to help manage workload during client review season.

“It is encouraging to see that many IFAs prioritise succession planning when taking on new advisers,” commented ValidPath group operations director, Tim Riseborough.

“IFAs who adopt a proactive approach to succession planning are best placed to ensure a seamless transition for clients and staff, whilst also achieving the best possible valuation for the business.

“We have seen many IFAs in our network hire younger advisers with the intention of handing over the reins further down the line.

“This allows relationships and trust to develop organically over time, providing reassurance for clients.”

---