Succession Resource Group Among Inc.’s Annual List of Best Workplaces for 2024
SRG named among best workplaces for established excellence
Symphony Financial Planning Partners with Pure Financial Advisors in Strategic Sell-and-Stay Transaction
The synergistic partnership, facilitated by Succession Resource Group, offers ongoing growth opportunities for both teams. Portland, OR – January 8, 2024 – Symphony Financial Planning, LLC (Symphony), a leading fee-only RIA firm based in Davis, California with approximately $240m in assets, is pleased to announce a strategic partnership with Pure Financial Advisors, LLC (Pure), a San Diego-based RIA managing $4.5 billion in assets, facilitated by Succession Resource Group (SRG). This sell-and-stay transaction, completed January 2024, marks a significant milestone for Symphony, providing the firm with enhanced resources, a deeper investment team, and greater opportunities for growth, while ensuring the preservation of its legacy. About the Transaction After 17 years of building Symphony into a respected advisory firm serving the Davis and greater Sacramento area, Paul Meyerhoff, PhD, CFP, sought a partner who could continue his firm’s legacy and offer growth opportunities for his team. With more business coming their way and no succession plan in place, the need for a strong, culturally aligned partner became paramount. Meyerhoff commented on the decision: “After building for the last 17 years, I was looking for a partner who could not only continue the legacy of serving clients in Davis and the greater Sacramento area but also ensure that my team has career paths and upside with a strong, organically growing firm, as I know M&A can only take you so far. Pure proved to be in a league of their own in terms of offering the culture, the growth, the service -offering, and the mission that we could all rally around.” The deal was finalized after a 14-month engagement period, during which SRG helped Symphony navigate a competitive market, attracting interest from 74 potential buyers. Of the 15 elite buyers vetted and presented, Pure emerged as the ideal partner. The deal received 9.56x on earnings, 70% cash down, and the remainder paid within the first year, as well as terms that included a post-sale employment agreement for a minimum 24-month period, ensuring Meyerhoff’s continued involvement in the firm’s growth. Jason Carver, CFO & Managing Partner of Pure Financial Advisors, shared his thoughts on the partnership: “Our focus continues to be on growing organically, with a secondary aim at making very few, select acquisitions and partnerships wherein the culture, business, and strategic fit exists. In [this] case, the connection and opportunity between our business was so natural and outright compelling that both sides were eager to partner together.” Kristen Grau, CPA, CVA, CEPA, Director of the Seller Advocacy Team at Succession Resource Group, commented on the transaction: “This partnership is a prime example of how thoughtful planning and proactive measures can result in a highly successful transition. By carefully selecting a successor who aligns with their values and vision, Paul Meyerhoff and Symphony Financial Planning have not only ensured the continuation of their client relationships but also secured a bright future for their team. Our role in facilitating this process highlights the importance of finding the right fit for both parties and underscores our commitment to guiding our clients through every step of their succession planning journey.” This partnership, rooted in a robust investment team, expanded resources for client service, and enhanced service offerings, allowed Symphony employees and clients, as well as Meyerhoff, to secure a future where clients continue to receive the high level of care they’ve come to expect, while gaining access to new opportunities for growth and innovation.
SRG Announces the Sale of Washington-based RIA
PORTLAND, Ore.–(BUSINESS WIRE)–Succession Resource Group (SRG) announced the sale of Washington-based Registered Investment Advisor (RIA), Evergreen Wealth Management Services, Inc. (EWMS) to a larger San Francisco, California RIA with more than $500 million in assets under management (AUM), led by a CFA and CPA. The sale represents more than $60 million in AUM, putting the acquiring firm over $600 million in AUM.
Succession Resource Group (SRG) Announces Expansion of myCompass Platform for Enhanced Client Experience
PORTLAND, Ore. (July 10, 2023) – Succession Resource Group (SRG), a consulting firm focused on helping professionals in the financial services, insurance, and tax planning industries value, improve, protect, grow, and plan for the eventual transition of their business – is excited to announce the expansion of its innovative myCompass platform. The platform, designed to streamline client communication and project management, has been further enhanced to provide an even more comprehensive and efficient experience for clients.
Advocated Sale of $44.52M AUM Florida-based, Fee-only RIA Announced by Succession Resource Group
Barry Katz (Katz) of Caratel Financial Services (Caratel) sells well-established firm to Nicholas McElroy (McElroy) of PGI Wealth Management (PGI).
Succession Resource Group Expands Talent Pool With Key Hires
PORTLAND, Ore. (Nov 17, 2020) – Succession Resource Group (SRG) is excited to announce three strategic hires to keep up with growth and continue to deliver best-in-class service to SRG’s valued clients. Adding to SRG’s existing roster of talented professionals, the team has recently hired Josh Clifford, CVA®, Katelynn Clements, JD, and Marc Stein, AIF®.
