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 […]
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 […]
Acquisitions are a great way to grow your financial practice. They allow you to scale quickly and immediately generate revenue from the new book of business. For many practice leaders, acquisitions are not part of their regular routine and the demands of the process can create challenges before, during, and after the deal. That’s why […]
Often, practice leaders focus on the terms of a deal, while overlooking the human aspects of the transaction. This is to the detriment of the deal and can even prevent a buyer from getting selected when there are multiple offers on the table. In order to not only get a seller to select you but […]
The value of any financial advising firm lies in its book of clients. It’s that value that serves as the basis of monetary worth during an acquisition. The projected return on investment justifies the expense of purchasing, that is, if the buyer can maintain that book of business once the deal is closed. As lending […]
Experienced practice owners understand the value of a well written contract and the value of getting all parties on the same page during an acquisition. When negotiating an acquisition, it’s always best to leverage an experienced acquisition consultant and lawyer to help you in structuring the deal. To help you identify some items you will […]