According to research from Morningstar, clients part ways with financial advisors due to quality of advice and services (32%), relationship with advisor (21%), cost of services (17%), dissatisfaction with returns (11%), preference for self-managing finances (10%), and poor communication (9%). Other reasons may contribute to the decision to switch advisors. If considering leaving an advisor, Facet suggests following a five-fold guide for a smooth exit.

When terminating a relationship with a financial advisor, it’s essential to notify them respectfully, review paperwork for fees and assets, reassess your financial situation, and look forward to a better plan. Consider what you want from an advisor, how your financial goals have changed, and be prepared for a transition to a new financial life.

Fidelity recommends having 10 times your annual income saved for retirement by age 67. An emergency fund in a liquid account is advised for unexpected expenses. Financial advisors can help with retirement planning, investment management, and more. SmartAsset’s tool matches you with vetted advisors to achieve your financial goals.

To grow your business as a financial advisor, consider SmartAsset AMP for marketing automation solutions. Advisors can connect with leads and spend more time converting clients. Make sure to have a clear plan for retirement savings and emergencies to secure your financial future.

Read more at Yahoo Finance: Thinking of Switching Advisors? Here’s How to Make the Transition Easy