The conversations have varied from concerns they have experienced over time in their business, the difficulty they have had in recruiting advisers and staff to the successes and failings of the industry.
Since the global financial crisis (GFC), there has been a shift in the mindset of practice principals. For some, the GFC forced them to stall actioning their succession plans, for others it forced them to sell up earlier than expected.
For others it caused a rethink of their advice proposition and career altogether.
While none of the conversations were the same, many had similar elements, including the most consistent that planning was the key.
Even in casual conversations, the planning and preparation a financial adviser undertakes for a client also needs to be adopted for the planner themselves.
In this week's magazine, we've dedicated our cover story to succession planning, and while it's not entirely a surprise, the notion of planning rates high on industry consultants' lists.
"A lot of people who come to us have left it too late. For example, two clients who attended one of our seminars and requested a proposal from us two years ago have recently finally got around to coming back to us to follow up," Succession Plus principal Craig West told journalist Jessica Gadd.
"One of them was prompted by the sudden death of his next-door neighbour, who was of a similar age. The other has had a serious health scare and needs to leave quickly, but hasn't done any preparation and can't get out."
As the markets muddle along in a sea of volatility, there are a large number of practice principals who have or are about to pass on the reins of their practices.
Business Health's Rob Bertino says many people underestimate the level of complexity involved in succession planning or the length of time that creating and executing a good plan takes.
Bertino says as an example, a principal who wants to mentor the successor will have a different plan to somebody who wants to switch off the lights and hit the golf course, or a person who wants to leave a bronze bust in the lobby and be chairman of the board.
It seems like an obvious consideration: a financial planner needs to plan for their future in the same way they do for their clients, yet how often does one place themselves ahead of others?
What are your experiences with planning for your business succession?
