Selling a book doesn’t have to mean fully stepping away from clients
Helping people reach their financial goals is what Dan Nolan likes best about being a financial advisor. But after years at the helm of his own business, he faced a frustrating reality: the day-to-day administrative and operational tasks of running a company were dominating his schedule. “I was being pulled away from what I ultimately love to do, which is spending time with clients,” he says.
In his mid-50’s, Nolan was at a crossroads. He didn’t want to retire; he wanted to move to a new phase of his career that would allow him to get back to his passion for client work. But how could he do that while running a business with 1,000 client families and $275 million in assets under management?
The answer came through IPC Wealth’s Pinnacle program, which offers financial advisors choice in succession. By monetizing his business, he could remove the administrative burden of running a company while staying on as an advisor with many of his clients.
Nolan, who holds the Chartered Investment Manager (CIM) designation, is far from alone in taking this approach. According to IPC’s 2025 Advisor Succession Planning survey, almost half (45%) of respondents said they plan to stay involved after selling some or all of their business.
Succession planning is often framed as the final chapter of an advisor’s career — a step taken when retirement is around the corner. But for some advisors, monetizing a business can mark the beginning of a new and rewarding phase in their professional lives.
Having a clear goal in mind
Selling a book of business can free up advisors to focus more of their attention on clients, expansion or mentoring the next generation. Whatever the goal, Nolan says it’s important to have a good reason to make the move.
“There has to be a really defined need,” Nolan explains. “It’s not always about the money, per se. For most advisors, I think it's a lifestyle choice, and how you want to continue in business if you do indeed want to continue.”
Nolan’s own reason to sell became clear as his business grew.
He started his career as an advisor in 1992, working for his father-in-law. More than a decade later, in 2006, he purchased part of the business, and the following year, he moved from the Mutual Fund Dealers Association of Canada (MFDA) platform to IPC Wealth under IPC Securities (IIROC platform) as an independent advisor.
He eventually established three offices across Ontario, in Deep River, Ottawa and Kingston. “Our business was getting more complex. A lot of my time was spent managing those branches and the advisors we had there,” he says.
Ultimately, his decision to monetize wasn’t an exit strategy; it was about offloading the everyday tasks of running his business to free up time for the work he enjoys most: serving his clients.
Removing the complexity
When Nolan sold to IPC Wealth, the operations team within the Pinnacle program took on responsibilities ranging from hiring staff to handling day-to-day administrative tasks, allowing him to spend more time with clients. “The complexity is just removed,” he says.
Still, Nolan admits that after running a business for so long, it can be overwhelming to let go, even of some of those time-consuming tasks you no longer want to do. That’s why it’s so important to choose a buyer who can manage the transition smoothly while maintaining continuity for clients. “When I looked at selling, it was critical that I had the right partner to sell to,” he notes. “If you're in a situation like I was, where you're ready to monetize, and you still want to continue seeing clients in the way you want to see them, I was given a wonderful opportunity to remove complexity and focus on what I love best.”
A chance to refocus
Monetizing your business can allow you to redefine your focus. For Nolan, that meant working with a specific type of client. “Now my book is primarily with business owners and professionals,” he says. “I don't focus on the younger generation where they're building their assets.”
Through the Pinnacle program, Nolan has been able to seamlessly shift clients who don’t fit within his scope to another advisor who can better serve them. Now, much of his time is helping people with tax strategies and estate planning. “Those kinds of more complex situations are a little more exciting to me these days,” he says.
For advisors thinking about selling, Nolan says a common misconception is that they’re no longer in control during the transition process. While there are certain operational parameters that advisors will have to work within when selling or monetizing, the transition can happen with their input when it comes to things like timelines and their level of involvement with clients. The goal is to create as little disruption as possible. “It’s business as usual,” he says.
That continuity was important to Nolan as someone who always puts his clients first. So was the flexibility to step back from the business without having to fully retire. “I was fortunate to be supported in the transition in the way I wanted to do it.”
