Practice Succession
You Spent Decades Building Something Worth Protecting.
Your clients didn't just hire you. They trusted you with the decisions that matter most in their lives. Now you're thinking about stepping away, and the question keeping you up at night isn't about the money. It's whether your clients will be okay after you're gone.
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The problem with most succession options? Most of the market is aggregators and roll-up firms optimizing for AUM.
They'll make you an offer. They'll promise continuity. And then your clients will spend the next two years getting passed between relationship managers they've never met, inside a brand you barely recognize.
That's not a legacy. That's a transaction. You deserve a buyer who sees your practice the way you do: as a group of real people who need real financial planning from someone who actually knows them.
Thomas Cowley
6 days ago
Mark and Jeff have handled my finances for over a decade. They have been great stewards for my investments which have grown substantially. They listen to my goals and give me recommendations and options to carry them out. I highly recommend them.
Jane Towery
3 months ago
I have been extremely pleased with Mark’s services over the last 15 years and would very highly recommend. Mark has taken the time to get to know my needs, interests, long and short term goals. We evaluate my portfolio yearly for any adjustments, reevaluation, or study trends. Mark objectively presents the pros and cons of options, answers questions, and leaves the final decision to me. I have never felt pressured and always appreciate how understood and listened to I have felt. More recently I have had some opportunity to work with Jeff as well. Mark and Jeff present a unified team who want to make your investments work for your needs.
Joyce Ducksworth
5 months ago
I have had the pleasure of entrusting my finances with Jeff and Mark for many years. Their expertise and advice are invaluable. My portfolio has grown significantly and has allowed me to retire comfortably with tremendous financial security. Mark is always available to answer my questions and provide solutions. I highly recommend Chesapeake Financial Planners.
stephen kinsley
5 months ago
Mark and Jeff have been my retirement advisors since 2011 and I could not be happier with them. They are knowledgeable and easy to talk with. They respond quickly to any questions and clearly explain all my options. I have been retired for 5 years and am fully confident that my financial future will continue to improve as it has so far with them. I would recommend them to anyone, and I only wish that I had met them sooner.
Bob Burris
6 months ago
I have been working with Mark and Jeff for 10+ years. I recently asked for a review of my financial plan and was provided outstanding feedback that provided me a much better solution.
Kim Wright
7 months ago
I am delighted with LPL. They've stayed with me for years and Jeff Judge has been exceptionally helpful. I've gotten good advice. He's managed my assets professionally and has always been available answer my questions.
He helped me consolidate several accounts into one manageable asset. He took the guesswork out of what could have been a complicated process.
I trust him to be there and guide me through issues in which I have no expertise. But he does this all the time and has proven to be trustworthy.
I do recommend Mr. Judge. You will not be disappointed.
Sharon Lewis
7 months ago
My husband and I met Mark and Jeff in 2014 when my husband left his job after 23 years. We met with Mark and Jeff to decide where to invest his retirement money. Before that decision was made, they took their time to understand our entire financial picture and based on that they gave us several options on where we could invest. They were very easy to talk with and made the conversation easy to understand. They are easy to get in touch with if you have questions and provide answers quickly. When it came time for me to retire, I also rolled my retirement investments into accounts managed by Mark and Jeff. We have also setup our estate planning as well as long term health planning based on advice we have had in review meetings in the years following our initial meeting. We have even referred our daughter and son in law to them. Highly satisfied with the investment service and customer service.
Andrew Benner
7 months ago
I check in with Mark a couple times a year and he always helps me keep my money that he manages growing. He also helps us with general advise regarding the type of places our 401k money should be (growth vs value, etc)
Mark Gray
9 months ago
Jeff has been helping me since 2014 with life insurance and retirement investment products. After a bad experience with a big insurance company, I found Mark and I’ve been working with him ever since. I’m successfully retired now and will begin drawing on my investments this year. I highly recommend Chesapeake Financial Planners for your retirement planning. – Mark G.
David Carrington
10 months ago
Jeff has been my financial advisor/ planner for several years. He has always guided me in the right direction and I have seen my retirement account continuously moving in the right direction. During the current uncertainty of the financial world right now Jeff has given me peace of mind that I continue to be in a safe and secure position with my finances. Jeff is very professional and quick to respond to my emails. As I approach my retirement years it is comforting to know my finances will be there when I need them.
Matt Hurson
11 months ago
I have been working with Jeff Judge and Chesapeake Financial Planners for about 3 years. Jeff has provided timely and well considered advice and acted promptly when I've needed access and changes to my portfolio. Highly recommend their services.
John Komoroski
12 months ago
We have worked with Jeff at Chesapeake Financial Planners for over 10 years. Throughout that time he has provided valuable investment and retirement information. Our investments have navigated this turbulent market far better than expected. Thank you Jeff.
Charles Gaither
12 months ago
I've been working with Chesapeake Financial Planners for a little over six years, and it's been an outstanding experience. They're knowledgeable, responsive, and consistently provide clear, personalized advice that aligns with my financial goals. Their long-term commitment and reliability have given me real peace of mind.
What We're Looking For
We work best with practices that look something like this:
- Fee-based or fee-only financial planning practices in the Mid-Atlantic region
- Solo advisors or small teams planning a retirement transition over the next 1–5 years
- AUM-focused books or comprehensive planning relationships, not primarily transactional
- Advisors who want their clients to land with people who actually do financial planning, not just investment management
If that sounds like you, we'd welcome a conversation.
How a Transition Typically Works
We've kept the process straightforward on purpose.
Initial Conversation
We talk through your practice, your timeline, and what a good outcome looks like for you. No pressure, no pitch deck.
Practice Review
We look at your client base, fee structure, and planning approach. We're evaluating fit as much as financials.
Deal Structure
We work through valuation, payment terms, and timeline. Earn-outs, phased buyouts, and consulting arrangements are all on the table.
Client Introduction
You introduce us to your clients on your terms. The goal is continuity, not disruption.
Transition
We work alongside you through the handoff. Most clients don't notice a rough edge because there isn't one.
What You Get on the Other Side
- Your clients are with advisors who will actually plan for them, not manage them into a service tier.
- The deal was structured fairly without forcing you to work five more years to earn it.
- Your name stays associated with good outcomes long after you're gone.
Don't Wait Too Long
Advisors who start this conversation 2–3 years out have more deal structure options, more time to introduce a buyer to clients gradually, and more flexibility to shape what the transition looks like. Waiting until you're ready to stop working next year isn't wrong. But it narrows what's possible
Frequently Asked Questions
How do you value a book of business or financial planning practice?
Most financial planning practices and books of business sell in the range of 1.5–2.5x annual recurring revenue. The specific multiple depends on several factors: client retention risk, fee structure (fee-only practices typically command higher multiples than commission-based books), client demographics, average relationship size, practice age, and how the transition is structured. A practice with long-tenured clients, predictable recurring revenue, and a clean fee-only model will attract a stronger valuation than a transactional book with high turnover. We don't apply a fixed formula. We look at the whole picture, including what the transition structure looks like, because a well-structured earn-out can close the gap between what a seller wants and what the numbers support.
Do you require an earnout when buying a financial advisor's practice?
Not always. Earn-outs are common in financial advisor succession transactions because they align the seller's incentives with client retention during the transition period. But we don't treat them as a requirement. For practices with strong client relationships, predictable retention, and a clean fee structure, upfront or largely upfront structures are on the table. Our goal is a deal that lets you actually retire on your terms, not one where you're watching a retention clock for the next three years. We also consider phased buyouts, consulting arrangements, and hybrid structures depending on what makes sense for both sides. What's right depends on the size of the practice, the seller's timeline, and how hands-on the transition needs to be.
What happens to my clients after I sell my financial planning practice?
Your clients continue working with fiduciary, fee-based financial planners who do comprehensive financial planning. They are not moved to a call center, assigned to a junior associate, or folded into an automated portfolio management platform. Chesapeake Financial Planners operates as a relationship-driven, planning-first firm. That means your clients get an advisor who knows their situation, understands their goals, and engages with the full picture of their financial life, including tax planning, estate planning, retirement income strategy, and investment management. The whole point of this kind of succession is that your clients land somewhere that operates the way you did. That's what we're built to do.
Can I stay involved after selling my practice — and for how long?
Yes, and in many cases it's the best outcome for clients. A gradual handoff, where the selling advisor stays involved in a part-time or consulting capacity during the transition period, tends to produce better client retention and a smoother experience for everyone. We're open to arrangements that keep you involved for 6 months, 12 months, or longer, depending on what makes sense for the practice. The structure should serve the clients first and work for both parties second. If you want a clean break and a shorter transition, we can work with that too. There's no single right answer, and we don't approach these conversations with a fixed template.
My practice is small. Is it worth your time to acquire a small book of business?
Probably yes. We're not looking for a $500M AUM mega-practice or a firm with a large support staff. What we're looking for is a well-run book of clients who have a genuine planning relationship with their advisor and need someone to take care of them after the transition. A smaller practice with 40–80 households and strong client relationships is often a better fit than a large, transactional book with high turnover. Size is not the primary filter. Quality of relationships, compatibility with our planning approach, and client fit matter more. If you've built a practice you're proud of, it's worth a conversation regardless of AUM.
When should I start planning the succession of my financial advisory practice?
Earlier than most advisors expect. Financial advisors who begin exploring succession options 2–3 years before their target retirement date typically have significantly more options available to them. Starting early allows time to structure the deal properly, introduce the buyer to clients gradually before the formal transition, and work through any licensing, registration, or compliance considerations without being rushed. It also gives the seller more negotiating leverage. If you're within 12 months of wanting to retire, it's not too late, but some of the most attractive succession structures require lead time to execute well.
Do you acquire financial planning practices outside the Baltimore and Annapolis area?
Our primary focus for practice acquisitions is the Mid-Atlantic region, including Maryland, Northern Virginia, Delaware, and Southern Pennsylvania. This geographic focus is intentional. We believe that serving clients well over the long term is easier when the advisors know the local tax landscape, the regional estate planning environment, and the community. That said, if you're just outside this footprint, it's still worth a conversation. Depending on how your book is structured and how the transition would work, geography matters less than it might initially seem. We evaluate each situation individually.
What advisor credentials or licenses are required to sell a financial planning practice to you?
We don't have a fixed credential requirement on the seller's side. What matters more than what licenses you hold is the nature of your client relationships and how your practice is structured. A fee-only RIA with comprehensive planning relationships is a strong fit regardless of whether the selling advisor holds a CFP, ChFC, or no planning designation at all. We'll work through any custodian transitions, regulatory notifications, or registration requirements as part of the due diligence and deal process. If your practice operates under a broker-dealer or has commission-based revenue, that doesn't automatically disqualify it, but it does change how a transition would be structured and what the timeline looks like.
Will you retain my staff when you acquire my practice?
It depends on the practice and the role your team plays. For practices where support staff have built meaningful relationships with clients, keeping them through the transition often produces better outcomes for everyone. Staff who know the clients, understand the workflows, and have established trust are an asset in a succession, not just overhead. We approach staffing decisions individually and don't have a blanket policy of retaining or releasing employees as part of an acquisition. If retaining your team is important to you, that's a conversation worth having early. It can often be factored into the deal structure in a way that works for both sides.
How confidential is the process of selling a financial planning practice?
Completely confidential until you decide otherwise. Advisors exploring a practice sale have legitimate reasons to keep those conversations private: clients may react with concern, staff may worry about their jobs, and competitors may use the information against you. We treat every conversation about a potential acquisition with the same level of confidentiality we extend to our own clients. Nothing is shared with third parties without your explicit consent. The due diligence process involves a review of your practice data, but that information stays between us. You control the timing of when clients, staff, and your professional network learn about a transition, and we support whatever timeline makes sense for you.
*Advisors are only obligated to apply the fiduciary standard in advisory relationships. They are not legally obligated to apply the fiduciary standard when working in Brokerage only relationships
**Mark Rossbach is the only advisor who has attained the RICP and CPA Designations and Jeff Judge is the only advisor who has attained the CFP, ChFC and CLU Designations
Ready to stop second-guessing and start feeling in control?
Book a short “Fit Call” to see if we’re the right partner for your financial life. No pressure, no jargon, just a conversation focused on your goals and whether our approach makes sense for your needs.