ANZ Wealth has put together a package for its financial advisers wishing to sell their businesses.

The package includes a loan facility enabling an adviser from an ANZ aligned dealer group to buy the client book of a retiring planner and an exclusive online marketplace for the sale of practices.

ANZ GM Advice and Distribution Paul Barrett says the package will enable advisers to create a successful succession plan for their business.

“Having a succession plan in place is part of good business practice and these tools will assist our aligned advisers to achieve the full value of their practices,” he said.

Other components of the package include a succession plan analysis that includes planning, diligence, valuations, preparation of legal documents and funding.

“With close to 2000 advisers across our network, it is important for ANZ Wealth to foster a culture of innovation and support that benefits all stages of the business cycle,” he said.

“We’ve had strong feedback from advisers for this initiative as they see the benefits of succession planning not just to support their transition to retirement, but to assist their business growth.”

The bank will eventually expand its online marketplace to non-aligned advisers wanting to sell their practices to an ANZ dealer group.