Selling Your Financial Advisor Business
According to the CFP Board, 48% of its 86,910 members are over fifty years old. That’s more than forty thousand financial advisors who will be looking to retire in the next two decades. Are you one of them? Have you considered selling your advisory practice?
Selling a financial advisor business is not something that happens overnight. Determining an asking price is only one small element of putting a deal together. Here at Bridgemark Strategies, we can help you with the creation and execution of an effective sales plan. Contact us today for more information.
When Should You Sell Your Practice?
Timing is everything. Business valuations are based on profitability and growth rate. The best time to sell your practice is when you have the proper amount of time to find a buyer and a smooth transition, which can take two years or longer. Practices that choose to sell too late are more likely to get a reduced price.
Building AUM and Selling Advisory Practices as a Business Model
Retirement is only one of many reasons to sell a financial advisor business. Some advisors specialize in creating growth strategies and actually build and sell more than once. It’s a profitable business model. Ask one of our consultants for advice if that’s the path you want to follow.
A Profitable Market
Over the last 15 years, the amount of money advisors can get for their business has risen astronomically. As