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About SRG

Succession Resource Group is a boutique succession consulting firm based in the Pacific Northwest, serving clients across the country. SRG was founded by David Grau Jr., MBA in 2012 after nearly a decade of helping advisors with valuation and succession planning. SRG's team of experts leverage their industry expertise, combined with best-in-class resources, to help advisors, agents, and accountants manage the equity in their businesses...

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12 min read

Mergers and Acquisitions 101: M&A for Financial Advisors

By David Grau Jr. on Nov 18, 2020 2:50:09 PM

What Exactly Is M&A?

The term "mergers and acquisitions" (M&A) broadly refers to the process of one company combining with another; however, the method and legality of how these terms are processed are slightly different.

Topics: Acquisition Blog
2 min read

Getting the Most Value Out of Your Business

By David Grau Jr. on Mar 5, 2020 2:35:19 PM

Developing a succession plan is a great tool to ensure your business continues to grow while you eventually work less and begin to realize the value of your business. But, a key piece of developing a plan for you and your business is having the right successor. For some, this person may be an existing employee or junior partner, but for the majority, the solution is to find a peer to sell the business to. The sale often involves a long-term gradual work-out period providing you with an exit strategy that lets you leave your business on your terms. So, where do you find a succession partner? And how can you do it with paying a hefty commission to a broker? Read on.

Topics: Acquisition Sellers Succession Plan Blog
2 min read

The Power of Subtlety in Acquiring a Practice

By David Grau Jr. on Feb 27, 2020 2:33:42 PM

It may sound contrarian, but if you are interested in buying a business, do yourself a favor and never ask the question, “Can I buy your practice?” Experienced advisors that have bought a business before know this to be true, and the reason is simple. The question ignores the fundamental realities of practice acquisition in the financial services industry. In the financial services business, the person who says “yes” to the question, “do you want to sell?” is not necessarily the type of person from whom you want to buy a practice.

Topics: Acquisition Buyers Blog
2 min read

Show Me The Money - Acquisition Financing Trends

By David Grau Jr. on Feb 27, 2020 2:29:31 PM

If you asked us five years ago about financing the acquisition of an advisory practice in the financial services industry, there would not have been much to talk about. Until recently, almost all deals were done using a combination of buyer’s funds and seller financing. Bank financing was not a viable option for most deals because lenders generally struggled with the collateral on the loan – an advisor’s most valuable asset in their business is the client relationship and cash flow those relationships produce. Before the market drop in September 2008, some advisor buyers were able to leverage home-equity lines of credit or large business lines of credit, but most had to use personal funds to finance their deal, which priced many otherwise qualified successors out of the market. Until recently, the typical deal for advisors with less than $5,000,000 in annual revenue involved 20-40% cash down from a buyer, with the balance seller-financed over 4 to 5 years at 5-7% interest. That is changing, and the results seem to be good for everyone involved in the deals.

Topics: cash down financing sellers Acquisition acquisitions lending Lending advisors Buyers show me the money SRG Blog Succession Resource Group
5 min read

How To Tell Employees You Are Selling The Business

By David Grau Jr. on Dec 17, 2019 11:03:59 AM

Download PDF Version »

Topics: Acquisition Sellers selling Blog
1 min read

2017 Advisor M&A Trends

By David Pan on Nov 25, 2019 1:37:14 PM

Join us as we delve into the 2017 Advisor M&A Trends and discuss another exciting year for the financial services industry with increased RIA and advisor consolidation, changes in compliance and the Department of Labor Fiduciary Rule, and the tax reform —  all of which had a direct/indirect impact on the value of RIA and advisory practices. This infographic shares the 2017 highlights in addition to what we shared in SRG’s live webcast.

Topics: Advisory Practice Ameriprise Financial M&A Acquisition valuation David Grau Jr M&A Review
3 min read

DOL Fiduciary Struck Down – Time to Sell

By David Grau Jr. on Mar 28, 2018 4:08:23 PM

On Thursday, March 15th, the U.S. Court of Appeals for the 5th Circuit struck down the DOL Fiduciary Rule. It is not known at this time whether this ruling will be appealed, or if it will apply to the entire country or just the states residing inside the 5th Circuit Court’s jurisdiction (Louisiana, Mississippi, and Texas). Nevertheless, the decision will have an impact on the value of advisor practices in 2018 and beyond, due to the expected shift in the supply-demand curves for advisor practices that are for sale.

Topics: Acquisition Sellers Buyers Blog
3 min read

9 Tips to Prepare Your Business for Sale

By David Grau Jr. on Mar 2, 2015 12:18:48 PM

Depending on what source you look at, the average age of an advisor in the financial services industry is anywhere from 51-57 years old. While that would typically leave plenty of time until the average age of retirement, the average age of an advisor selling their business is much younger, most often occurring near age 59. This is due in large part to the long-term seller involvement that is ideal in the sale of a professional services business, ranging from as low as 12 months to as long as 5 years. While you may not sell your business, you will leave this industry – planned or unplanned. The better prepared you are for your eventual transition, the happier your clients will be with the process, and the more you are likely to get out of it (financially and emotionally).

Topics: advisor Erik Pahlow Grau Sale Acquisition Building Value/Business Valuation financial advisors Sellers Succession Plan valuation David Grau David Grau Jr Pahlow advisors buyer prepare for sale SRG Blog Succession Resource Group

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