Raymond James has launched a new program to help retiring advisors with succession and acquisition planning.

The Advisor Emeritus program sets up retiring advisors with successors who’ll work with them as consultants for up to two years before their planned retirement, according to the company.

Raymond James says advisors and their consultants will schedule client introductions and integrate staff and processes during that time. And the program will also help retiring advisors receive payment for up to five years after retirement.

The program is currently being offered to employee-channel advisors within Raymond James & Associates and its Alex. Brown division. But the program’s framework can also work as a template for independent advisors, who’ll be able to tap the program’s Succession & Acquisition Planning team for consultative services, the company says.

More than115,000 financial advisors are expected to retire from the industry over the next decade and 22% of them have no concrete succession plans, according to a recent report from asset and wealth management research firm Cerulli.

“All firms face an oncoming wave of advisor retirements. In addition to ensuring continuity of service for clients, we remain focused on assisting our experienced advisors as they transition into retirement,” Robert Goff, vice president of succession and acquisition planning at Raymond James, says in a statement.

“Often, experienced financial advisors have spent decades building their business and serving their loyal clients, and the thought of retirement can be daunting administratively, financially and even emotionally,” he adds. “This new program offers advisors who qualify a structured pathway to help transition their clients and business responsibilities to a successor, which helps them carry out a smooth succession strategy for themselves, their business and most importantly, their clients.”

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