Why Advisors Need a Dedicated Buy and Sell Platform?
- My Advisor Group Canada
- Dec 24, 2024
- 3 min read
Updated: Sep 22, 2025
The 2024 Advisors’ Report Card, published by Investment Executive, offers valuable insights into the state of the financial advisory industry. With trends highlighting challenges such as an aging advisor demographic, income disparities, and evolving client expectations, the need for innovative solutions has never been greater. One such solution is a dedicated platform for buying and selling books of business, like the one offered on My Advisor Group. Here’s why this functionality is critical for advisors today.
1. Addressing an Aging Advisor Base
The average age of advisors in 2024 is 49.2 years, with many nearing retirement. Advisors have spent an average of 21.8 years in the industry, building robust client relationships and sizeable books of business. However, as these advisors prepare for retirement, a clear pathway to transition their books is essential.
The Buy and Sell Hub on My Advisor Group provides a seamless way for retiring advisors to ensure their clients’ continuity by connecting them with trustworthy successors. It allows advisors to exit the industry on their terms while preserving the value of their hard work.
2. Unlocking Growth Opportunities
While brokerage advisors manage an average of $267.6 million in AUM, their counterparts at dealer firms handle just $82.2 million on average. This disparity highlights a significant opportunity for advisors at smaller firms to scale their businesses.
The platform’s buy-and-sell functionality enables ambitious advisors to acquire established books of business, providing a faster route to growth. This is particularly crucial for those looking to close the gap in compensation and AUM management compared to their peers in larger firms.
3. Adapting to Changing Client Dynamics
The average number of client households managed by advisors has declined. This trend reflects the industry’s shift toward focusing on fewer, higher-net-worth clients. The ability to strategically buy or sell books of business helps advisors align their practices with this new reality.
For example, advisors looking to specialize in high-net-worth clients can sell smaller client accounts to peers who are better equipped to serve them. Conversely, newer advisors or those targeting growth can acquire these accounts to build their client base.
4. Enhancing Inclusivity and Representation
The report shows that female advisors make up approximately 20% of the industry, with even lower representation in brokerages and dealer firms. Providing equal access to buying and selling opportunities helps level the playing field for underrepresented groups, fostering greater inclusivity within the industry.
How My Advisor Group’s Platform Solves These Challenges
The Buy and Sell Hub on My Advisor Group is designed to address these key industry needs:
For Retiring Advisors: Provides a secure, structured way to transition their books and ensure clients are cared for.
For Growth-Oriented Advisors: Connects them with opportunities to acquire established practices, accelerating their path to success.
For New Advisors: Offers a gateway to enter the industry or scale up by acquiring smaller client books.
For the Industry as a Whole: Promotes inclusivity and collaboration by creating a centralized marketplace for advisors to connect.
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