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By David Grau Sr.

The Authoritative M&A consultant for monetary Advisors

Buying, promoting, & Valuing monetary Practices shows you the way to accomplish a sale or acquisition of a monetary advisory perform and feature either the customer and vendor stroll away with the absolute best phrases. From the 1st pages of this distinctive e-book, purchasers and and merger companions will locate distinctive info that individually addresses each one in their wishes, concerns and concerns.

From bestselling writer and influencer David Grau Sr. JD, this masterful consultant takes you from the real fundamentals of valuation to the finer issues of deal structuring, due diligence, and criminal issues, with a intensity of insurance and strategic suggestions that places you in one other league if you happen to input the M&A house. whole with useful instruments, worksheets, and checklists on a better half site, no different source allows you to:

  • Master the thoughts of worth and valuation and take this factor “off the desk” early within the negotiation process
  • Utilize complicated deal structuring strategies together with vendor and financial institution financing strategies
  • Understand tips to collect a e-book, perform or enterprise in response to the way it was once outfitted, and what it truly is in a position to offering within the years to come
  • Navigate the complexities of this highly-regulated career to accomplish always nice effects even if purchasing, promoting, or merging

Buying, promoting, & Valuing monetary Practices will make sure that you deal with your M&A transaction thoroughly and professionally, aided with the main robust set of instruments on hand anyplace within the undefined, all designed to create a transaction the place all people wins—buyer, vendor, and clients.

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Extra resources for Buying, selling, and valuing financial practices, + website: the FP transitions M et A guide

Sample text

To do that, equity must come into play. Advisors must have an opportunity to buy into ownership and to enjoy the benefits of cash flow plus equity. It’s no wonder that firms are the most valuable and durable models. In terms of considering an external sale, it is important to consider the role played by consolidators and “roll-ups,” viable exit planning options in their own right. Though the terms have broad application generically, there are but a handful of enduring and reliable consolidator/roll-up models, at least on a national level.

In other words, a fee-only seller will likely start their buyer search within their primary, current custodial network, even though RIAs/IARs might work with more than one custodian. A fee-based, FINRA-regulated seller with an independent broker-dealer (IBD) will tend to look for a buyer within the same IBD network. Being independent means having lots of choices and flexibility, at least theoretically. As a matter of practicality, however, these choices tend to be limited and center on one of these primary selling venues: An open market sale, defined as an unrestricted sale of a book, practice, or business that could take place, at the owner’s discretion, either within the same IBD/custodian or outside of the seller’s broker-dealer/custodial network.

Most advisors have a plan to realize the cash flow element for as long as they can work, but most advisors do not have a plan for how to realize their equity value and ensure that their clients are taken care of for the rest of their lives as opposed to the career length of their advisor. Revenue sharing agreements, one of the most commonly used “solutions” by book and practice owners interested in selling, deserve at least part of the blame. These simple two- or three-page agreements, provided by the practice management personnel at an independent broker-dealer or custodian at no cost, are a favorite of buyers.

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