When, and how, to tell your team “I am selling”

Telling your trusted team about the sale of your business is probably the leading concern a seller of a financial advice firm can have. It is going to be one of the most important and sensitive moments in any sale. Get the timing wrong, and it can all unravel.

Announce too early, and you risk unsettling your team over something that might not happen. But if you leave it too late, you risk resentment, broken trust, and a chaotic handover. An important starting point is that there is actually no perfect answer. However, there is a smarter way. Here’s what we’ve learned helping over 50 firms exit right.

1. Get to 99% before you announce

Unless you’re retiring from a small and close-knit advice firm, where the team is likely to welcome early involvement, the safest route is to wait until the deal is highly likely. Ideally, this would be post-exchange. Why? Because some deals fail.

Announcing too early can create anxiety, especially if the deal falls through, and it can trigger departures. This is going to have an impact on the value of your company, affect the delivery of advice to clients and take an emotional toll on everyone involved.

It is a good strategy to work with the buyer to build in a break between exchange and completion, so you’ve got time to tell your team before you tell the world. Giving your team time to absorb the information and build trust can then help with the process of telling clients.

2. Be ready to move if whispers start

Your team will notice if something’s going on. Private meetings and closed doors are not a good look.  More phone calls than usual spark uncertainty and you will be amazed at what the team around you pick up on. Then people talk and if you’re not controlling the message, someone else will.

Our advice? Have a communications plan ready to go in advance. Agree on a narrative if someone asks you outright if you are selling. If you need to move faster than expected, you’ll be prepared.

Some people need to bring a trusted team, like a leadership team, into the fold. Perhaps, because you need them to carry out the due diligence part of the exit strategy. If you trust your senior team and you want their support, bring them in earlier.

Top Tip: Remember, that your team will be worried about their own job security around the sale of a business. When telling people you will need to give them accurate reassurance. You can also think about using the deal to secure some sort of reward for the team that is linked to the earn out period to replicate that team ethos you have in the new world.

3. Don’t overpromise. Keep communicating.

Whether you’re telling your team ahead of time or just after exchange, one rule applies: set expectations carefully.

Avoid bold claims like:

• “Nothing’s going to change”
• “Your job is 100% safe”
• “You won’t notice any difference”

Instead, be honest. Share what you know, admit what you don’t and commit to keeping people updated. Deals evolve and so should your communications.

4. Align your messaging with the buyer

The moment your team hears the news they will look for certainty. If you and the buyer aren’t saying the same thing, it creates chaos. Before you announce anything:

• Agree the core message
• Decide who’s saying what
• Be clear on timing and tone

The best deals have joint communications plans ironed out before exchange – even if they’re only used after. One story. One team. One plan. One united front.

5. Make people feel part of it

Selling a business shouldn’t feel like a transaction, it’s a turning point. Your team will want to know:

• What happens to me?
• Will my job change?
• Who will I be working with?

You might not have every answer, but you can still make people feel seen. Reassure where you can, involve people in the transition where it makes sense and set timelines for updates.

If you want to go further? Consider a small exit bonus or gesture to recognise the team’s contribution. £500–£1,000 per person, or a meal out, or a thank-you event. It’s not about the money. It’s about the message.

Final thought

There’s no one-size-fits-all answer. if you can:

• Get the deal 90% there before communicating widely
• Be honest without creating fear
• Align with your buyer
• Keep the team involved and informed

You’ll protect your people AND your deal.

Planning to sell – but not sure where to start?

From timing your announcement to protecting your team and your value, we’re here to talk about what’s right for you. You don’t have to figure it all out on your own. Whether you’re ready to work with us or just exploring your options, we’re here to chat things through. There’s no pressure, just pick up the phone and say ‘elo.

Drop us a line → hello@melo.co.uk / 0113 4656 111