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Based on the numbers, finding a prospective buyer for a financial advisor’s book of business shouldn’t be all that difficult. Today, there are fifty buyers out there for every seller. Those numbers sound good, but financial advisors look for quality, not quantity. Your book of business is not a retail product to be sold to the highest bidder. It’s a list of clients that you have a fiduciary responsibility to. That doesn’t change when you sell the business or retire. Transitioning is about finding a buyer who will properly service your clients. In addition to adhering to your fiduciary standards of client care, the buyer also needs to be willing to meet your price. That willingness will be based largely on how you handle the sale. In this article, we’ll discuss how to find a buyer for a financial advisor’s book of business. We’ll go over timing, buyer options, and the [...]

The ever-increasing demand for holistic wealth management has created an increase in Broker/Dealer changes. Independent Broker/Dealers (IBDs) are the main beneficiaries of this trend. Is that the direction you are heading? In this article, we’ve outlined the process for how to choose a Broker/Dealer, including a list of questions to ask during the “interview” process. This information is for established advisors and firms seeking a Broker/Dealer affiliation and change. […]

The time has come to make a decision. Do you want to be an employee or a business owner? The former comes with a certain level of security. The latter offers independence and a chance to build something on your own, which can ultimately lead to a highly valuable and sellable company. This article is not meant to sway you in one direction or the other, but the benefits of independence abound in a scenario where one third of the workforce will be moving on in the next decade. If you’re wondering how to become an independent financial advisor, these are the steps you need to take. […]

One of the proven ways to increase revenue and scale your existing advisory practice is to acquire or merge with another firm. Mergers are also a solution to gain instant scale by aligning with a larger firm. Whatever your reasons, there is a process to buying an RIA. It’s not something that you should venture into without first doing your homework. In this article, we’ve laid out some helpful tips and strategies to help you successfully complete an acquisition. […]