Caboodle launches succession planning service

Caboodle Financial Services has released a new succession planning product to assist advisers with the process of selling their practices, and potentially driving practice value.

Under the service, dubbed the Caboodle Masters Network, Caboodle will acquire a practice’s book of business and assume responsibility for servicing clients ahead of the principal's impending exit.

In addition, Caboodle will pay the principal 50 per cent of recurring revenue for a minimum of 10 years, with an opportunity to extend the 10-year period if advisers continue to write new business.

Business coach Warwick Hearne, who worked with Caboodle to develop the product, said succession planning was a major issue for advisers requiring a solution of this kind.

“Without a viable exit strategy, advisers, their families, and their clients are exposed,” he said.

“This much-needed solution enables advisers to plan and manage their succession.”

Mr Hearne suggests clients using the product could double the sales price of their business.


Practice management consultant Graham Peatey – who recently joined Caboodle – said the new service has the “power to end the succession nightmare” for advisers.

“In the 20 years I’ve worked in financial services distribution, I’ve never seen a succession planning solution this compelling,” Mr Peatey said. “It addresses the key challenges of succession because from the outset the adviser knows how and what they will be paid for their business.”


Caboodle launches succession planning service
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