The new year has advisors looking at their goals and setting lofty expectations for their practice in the coming months. Often these include goals around client acquisition and revenue generation. One target that has made its way into the sights of practices small and large is acquisitions. Many view acquisitions as the key to leveling […]
As the financial advisor sector has matured, more opportunities have developed for advisors to leverage capital to grow their businesses. In addition to capital for acquisitions and other growth initiatives, advisors also have access to capital for commercial real estate. The opportunities are even greater, now that advisors have access to SBA loans. The 504 […]
Covid has brought many changes and challenges to the financial industry. It has also brought opportunity in the form of government programs designed to keep small businesses not only open, but also growing. Chief among them are the SBA 7(a) and 504 loan programs, which are designed to make credit accessible to business owners looking […]
Transitioning clients and minimizing attrition is critical to a successful acquisition. Usually this entails several in-person meetings to introduce new clients to the advisor and his or her team. But the pandemic has created numerous challenges and forced many firms to shift to virtual operations. Paired with social distancing rules and lockdowns, in-person client meetings […]
The past few months have been stressful for many advisors. Managing client fears while shifting operations to remote work and monitoring fluctuating markets has many advisors ready to exit for good. Many experts see this as the catalyst to trigger the “age wave” of retiring advisors that they have been predicting for the past couple […]
In our previous post, we discussed how having financing in place gives you a competitive edge in acquisitions. Many advisors don’t stop at one acquisition, choosing instead to use acquisitions as an ongoing growth strategy. Whether you plan on purchasing one practice or many, having a strong relationship with a lender is key to a […]
Over the past several years, there has been a surge in the number of advisors looking to grow through acquisitions. This has created a market where sellers have multiple buyers to choose from and buyers must compete for the deal. Many factors influence a seller’s decision, including the buyer’s personality, cultural fit, and investment philosophy. […]
Advisors always enter into an acquisition deal hoping for and expecting the best. If you do your due diligence, your chances of a positive outcome are high, but the unexpected can still happen. To ensure appropriate stewardship of the deal by all parties, as a buyer you need to do everything you can to protect […]
The normal method for growing a practice is by acquiring new clients one at a time. Although this is a valid and sound approach to growth, it’s also a generally slow approach. For advisors who want to grow quickly, acquisitions are the answer. There are many reasons why acquisitions are a great way to grow […]
More advisors are turning to acquisitions as a reliable growth strategy. Many are seeing great success as a result. However, as with any business transaction, not every deal works out as it should. This usually happens because an advisor didn’t consider the importance of due diligence when purchasing an advisor practice. The rise of practice […]