After more than two decades in the financial services industry, Mark Esslie began to notice a recurring theme. Advisors nearing retirement often had no plan for themselves. They had guided hundreds of clients into financial security, but were unprepared to transition out of their own businesses. “I had people coming to me saying they didn’t know what their book was worth, who would serve their clients, or even how to start the process,” says Esslie, Partner and Managing Director of Iron Tree Financial. “That’s when I realized the industry was missing something fundamental.”
According to recent research, the average financial advisor in the United States is in their late 50s, and around 40% are expected to retire within the next decade. Esslie, who entered the industry in 2000 and quickly moved into management and training roles, saw this gap as both a challenge and an opportunity. “One of the best ways to scale, I realized, was to acquire practices from retiring advisors,” he says. “But more importantly, it was about creating a dignified way for them to exit while protecting the relationships they spent 30 or 40 years building.”
Since 2017, Iron Tree Financial has aimed to fine-tune a system that supports advisors through every step of this process. The firm operates under what Esslie describes as a “supported independent” model as its broker-dealer, a hybrid structure in which all advisors remain independent, but their operations, marketing, and compliance support are centralized. “Our advisors are independent, but our staff are W-2 employees,” he says. “That gives us consistency and accountability across the board.”
Iron Tree’s approach combines structure with empathy. The firm engages advisors two to three years before retirement, guiding them through valuation, tax strategies, and the emotional side of letting go. Esslie explains that many struggle with the psychological aspect. He says, “They have spent their careers helping clients retire, but they don’t know how to retire themselves.”
To address this, Iron Tree’s process includes what Esslie calls the “three parts” of advisor retirement: monetary, client service, and psychological. The first focuses on valuation and tax planning. “A lot of advisors often overestimate the value of their book,” he says. “They don’t always see the risks from a buyer’s point of view, like client age, lack of beneficiaries, or outdated communication methods. Those factors affect value.”
The second part, client service, is where Iron Tree’s infrastructure shines. The company maintains dedicated teams for operations, marketing, and advisory support. When an advisor transitions, operations handles the paperwork, marketing manages communication, and advisors focus solely on relationships. To ease the shift, Iron Tree uses podcasts and video introductions to help clients get to know their new advisory team before meeting in person.
The third part, the psychological transition, may be the hardest. Advisors often delay retirement out of loyalty to their clients or fear of losing purpose. Iron Tree creates space for these conversations and encourages gradual involvement. “Many retiring advisors stay on with us as clients,” Esslie says.
For Esslie, the heart of Iron Tree’s success lies in how every interaction feels productive with the clients. As the financial advisory industry faces a generational shift, Iron Tree Financial stands as a bridge between legacy and longevity, helping those who have built careers around guiding others finally take their own next step with confidence.
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