ValidPath has announced the appointment of Tim Clark as Succession Director to support its Succession Solution for independent financial advisers (IFAs), the alternative to consolidation.
Tim joins from M&G Plc where he was Recruitment and Acquisition Director and more than doubled M&G Wealth’s advisory business during his tenure, successfully sourcing and integrating firms such as Sandringham Financial Partners and Continuum. Tim has over 40 years’ experience in financial services helping to grow businesses both through acquisition and organically.
The ValidPath Succession Solution was developed as the alternative to IFA consolidators or “do-it-yourself” options, and it enables selling advisers to retire on their terms, achieve a capital event, continue to support clients in their best interest and transition ownership to the next generation of financial advisers.
Whether ready to sell now or wanting to plan for the future, the ValidPath Succession Solution can support advisers through the entire process of succession planning, regulatory transition, exiting the business and retirement, and it provides all financing and ongoing deal administration. In this new role, Tim is responsible for working with firms to achieve their retirement and succession objectives via the ValidPath Succession Solution and managing and supporting the process.
Angus MacNee, CEO, ValidPath, said: “We are very pleased to welcome Tim to ValidPath, he is an industry veteran that believes in our succession proposition and what it can do for IFAs. He is well known throughout the sector and we are looking forward to working with him to support our Succession Solution which is a real alternative to consolidators, particularly for IFAs that value independence along with client and staff wellbeing.”
Tim Clark, Succession Director, ValidPath, added: “Consolidation has continued at a fast pace over the last few years and, until the ValidPath Succession Solution selling to a consolidator was one of the only options available. Yet, many advisers are not comfortable with selling to a consolidator as they want their clients to be looked after in the way that they are used to, not via call centres or by being pushed onto a particular platform. The more advisers I talk with say that they need a different option and that is where the ValidPath Succession Solution comes in. It supports the adviser achieve their objectives while empowering the next generation of advisers in a way that is not possible with a traditional ‘buy-and-build’ consolidation model. This makes the ValidPath Succession Solution an attractive proposition for the advisers selling their business, shareholders seeking an exit and upcoming advisers. I am really excited to be joining Angus and the ValidPath team and look forward to working with advisers to help them achieve their retirement and succession goals.”
