A study conducted in the spring revealed a striking statistic—83 per cent of Canadians have concerns about what will happen when their financial planner or advisor retires.

Those worries are well-founded. After all, a strong client-advisor relationship is built on trust, continuity and long-term planning. When a planner retires or leaves the profession, that continuity can be disrupted.

While the responsibility ultimately falls on professional financial planners to clearly communicate their succession plans (financial advisors don’t have the same professional responsibility requirements), clients don’t have to wait for that conversation to happen. If your planner or advisor hasn’t yet talked to you about their own plans for the future, it’s entirely appropriate—and wise—for you to ask.

Here are the key questions to raise, what kinds of answers should give you confidence, and what responses might be red flags:

1. What is your plan for retiring or stepping back from your practice?

This might feel like a personal question but it’s a perfectly valid one. You’re entrusting this person with your financial future—you deserve to know what their long-term plans........

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