An advice relationship can be disrupted if the advisor retires, changes firms, becomes ill or dies. The plan and records should not depend entirely on one person’s availability.
Ask which FSP holds responsibility, where client records are kept and who can access them appropriately. Understand whether another advisor would take over, whether you would choose again and how ongoing fees or service mandates would be handled. If an advisor operates alone, continuity arrangements deserve particular attention.
None of this predicts failure. It is ordinary operational planning, similar to knowing who services a policy when a staff member is on leave. Your own copies remain important because firms and systems change.
Try this now
Record the licensed firm, primary advisor, alternative contact, service agreement location and where you keep your advice history. Test that the firm’s main contact details work independently of one mobile number.
Ask your advisor
- What happens to my service and records if you are unavailable?
- Who may contact me and under what authority?
- Will I be able to choose whether a new advisor takes over?
Continuity arrangements should protect access and informed choice, not assume consent to a new relationship.