Succession Advice Is Earned, Not Assumed

By Ash Playsted – CEPA, GM Broker Performance, Recludo Group

When it comes to succession planning in mortgage broking, there’s a truth I’ve learned the hard way—and it’s this:

You can’t lead someone through a journey you haven’t walked yourself.

Not with integrity. Not with any real impact. And definitely not in this industry.

Yet today, we’re seeing more and more advisors trying to guide business owners—especially mortgage brokers—without having carried the burdens of ownership themselves. Without the sleepless nights. Without the cashflow crunches. Without ever having to choose between reinvesting in the business or taking a salary. And certainly without the personal risks tied to scaling, leading a team, or handing over the reins.

I’ve seen it firsthand: well-meaning professionals pushing playbooks they haven’t lived through. Selling growth strategies they’ve never applied in a real business. Offering exit planning advice without ever having exited a business of their own.

This isn’t just ineffective. It’s dangerous.

Because succession—true succession—isn’t theoretical. It’s deeply personal. And for business owners, especially those in the mortgage industry, it’s the single biggest financial and emotional decision they’ll ever make.

The Broker’s Burden: Why Succession Hits Different

Let me be clear: mortgage brokers are a unique breed of business owner. We build fast. We hustle. We wear every hat in the business—from lead generator to loan writer, HR manager to cultural glue. For years, we measure success by the volume of loans we write, not the value of the business we’re building.

And then something shifts.

We hit a ceiling. Not just of capacity—but of meaning. We start asking bigger questions:

• “What’s my business actually worth?”

• “How do I step back without everything falling over?”

• “Can this business survive without me—or is it just a job with staff?”

• “What happens if I wait too long to act?”

These aren’t technical questions. They’re existential. They live at the intersection of financial planning, identity, legacy, and lifestyle. And the only way to answer them honestly is to have lived them.

I have. And that’s why I’m writing this.

From Broker to Business Owner to Advisor

Before I became the GM of Broker Performance at Recludo Group, before I coached others, before I became the only CEPA-qualified succession advisor working exclusively in the Australian mortgage broking industry… I was in the trenches.

I’ve built multiple mortgage businesses from scratch. I’ve hired, fired, grown, and exited. I’ve sat across from accountants and lawyers. I’ve navigated due diligence, negotiated valuations, and made hard decisions about legacy versus liquidity.

So when I speak to a broker about preparing for succession, I’m not reciting theory. I’m telling the truth from the battlefield. And that truth is often uncomfortable.

Most brokers don’t have a succession plan. They have a vague idea of selling “someday,” but no clarity on how, to whom, or for how much. Even fewer have structured their business to be transferable—where value exists independently of the owner.

And most of the so-called advisors helping them? They haven’t faced those decisions either.

The “Advisor Drift” Problem

There’s a trend happening—especially online—that’s undermining the credibility of advice itself.

Well-credentialed professionals, often from financial planning, accounting, or consulting backgrounds, are repositioning themselves as “growth advisors” or “exit planners” for business owners. On paper, it sounds great. They’ve got designations, LinkedIn clout, maybe even a keynote or two under their belt.

But look closer and the cracks appear:

• No firsthand business ownership.

• No experience managing payroll through a downturn.

• No scar tissue from scaling and systemising operations.

• No track record of navigating an actual succession or exit.

It’s like watching a diet coach who’s never dieted. Or worse—a swimming instructor who’s only read about water.

This disconnect is not just a credibility issue. It’s an ethical one. Because when you advise a broker on their succession journey, you’re influencing how they provide for their family, protect their staff, and fund the next chapter of their life.

That’s sacred ground. It should never be walked by tourists.

The Cost of Pretending

I recently heard of a financial advisor pitching lead generation strategies to a brokerage owner. The irony? That advisor couldn’t even explain their own cost per lead.

Moments like that break trust in an instant.

And yet, they’re becoming more common. Advisors stretching beyond their expertise because they’re uncertain in their own identity. They adopt titles like “strategist” or “consultant” without doing the deep work to master their original craft. They become generalists in a space that demands specialisation.

In the world of succession, this is lethal.

You can’t Google your way into advising a broker on their life’s work.

You can’t shortcut the trust it takes to ask a founder to let go of the very thing they’ve built with their blood, sweat, and sanity.

You can’t fake lived experience.

What Business Owners Actually Want

Here’s what brokers really want when they seek succession advice. They don’t want someone to run their business for them. They want a partner who can:

• See the financial consequences of decisions across multiple timelines.

• Guide them through risk-mitigation without stifling growth.

• Help them shift from income-centric thinking to value-centric thinking.

• And most importantly—speak the language of a broker who’s been there.

Succession is not a spreadsheet exercise. It’s not just about tax minimisation or sale price. It’s about timing, readiness, identity, and trust.

And unless you’ve gone through that personally, you’re simply not equipped to lead someone else through it.

Why CEPA Matters—When Paired With Real Experience

There’s a reason I pursued and earned the Certified Exit Planning Advisor (CEPA) designation.

It’s not because I needed more letters after my name. It’s because CEPA gave structure to what I had already lived.

It turned my hard-earned experience into a repeatable, transferable framework—one that lets me guide brokers through the 6 pillars of exit readiness with precision and empathy.

But CEPA alone doesn’t qualify you. It’s the combination of certification and lived succession experience that makes the difference.

In my view, unless an advisor has that blend, they shouldn’t be advising on exits at all.

The Recludo Principle: We’ve Been There

At Recludo, our approach to succession for mortgage brokers is built on one principle:

We only advise what we’ve actually done.

Our team is made up of industry veterans who’ve started, grown, and exited mortgage businesses. We’ve navigated the messy middle, the near-burnouts, the people problems, the valuation puzzles. We know what it means to lead from the front—and we know what it means to let go.

That’s why brokers trust us.

Because when we say “we get it,” we mean it. Literally.

If You’re an Advisor—Here’s the Challenge

If you’re reading this as an advisor, especially one working with business owners or brokers, I’ll offer this:

• Anchor to your expertise.

• Don’t reach for clout. Reach for clarity.

• If you haven’t lived through the business lifecycle—admit it. Then find partners who have.

• And above all, stop pretending.

The best advisors in the next decade won’t be the most credentialed. They’ll be the most real. The ones who’ve walked through fire and emerged with something to teach.

For Brokers Seeking Advice—Ask This First

And if you’re a broker thinking about succession—whether it’s five years away or five months away—ask your advisor this simple question:

“Have you been through what you’re asking me to go through?”

If the answer is no, keep looking.

Because your future deserves more than theory. It deserves the truth.

Final Thought: Clarity Over Clout

Succession is not about exit. It’s about evolution. It’s the shift from being the business to owning the business. From writing loans to building legacy.

And that path? It can’t be guessed at. It must be lived.

So let’s raise the standard. Not just for the sake of good advice—but for the future of every broker who’s built something worth passing on.

Ash Playsted
Certified Exit Planning Advisor (CEPA)
GM of Broker Performance | Recludo Group
Australia’s only CEPA-qualified advisor serving the mortgage broking industry