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Strategies for Building Enduring Wealth Advisory Firms With Ray Sclafani Part 1 (Ep. 19)

Watch the Replay Related Resources 2025 Advisor M&A Report Check Out our Press Release→ Succession Readiness Checklist Check Out the Checklist→ Selling Your Practice with Expert Advocacy  Watch the Replay →  Grab A Valuation We offer a variety of solutions and turnaround times to fit your needs. Join myCompass Our membership club grants you inside tips and opportunities to grow. Review our Seller Services We’re here to ensure you secure the best buyer, price and terms.

Succession Role Transition Planner Tool

Download Your eBook! Please enable JavaScript in your browser to complete this form.Please enable JavaScript in your browser to complete this form. Name * FirstLast Phone Work Email *How Did You Hear About SRG? *— Select Choice —ConferenceDirect MailExisting/Past ClientGoogle AdWordsOtherReferralSocial MediaSeminar/WorkshopWebinarWebsite Download Succession planning is a gradual and complex process that involves the smooth transition of trust from one generation of owners to the next. It encompasses various crucial elements such as timeline considerations, mentoring and training, evaluating risk tolerance, managing finances and cash flow, determining valuation, reviewing contracts, and much more. In order to simplify this process, we have created this e-book that breaks down your succession plan roles into 7 categories. It is also an example of what our expert SRG consultants use to initiate conversations and facilitate planning. To ensure that your succession planning is intentional, organized, and strategic, make use of our comprehensive succession planning checklist. It will help you develop a well-thought-out and documented transition plan. Don’t miss out on this valuable resource!

2024 Mid-Year Advisor M&A Highlights

Originally released on July 17, 2024, Succession Resource Group’s semi-annual Advisor M&A Update provides guidance to thousands of financial advisors preparing to grow, transition and sell their advisory firms. This report’s findings are based upon 45 deals completed from January through June of 2024, shining a spotlight on the greatest opportunities, challenges, and trends facing the wealth management industry today. Download our digestible infographic to learn about the current valuation multiples for RIAs, deal structures, the changing landscape of advisor financing, and much more. DOWNLOAD NOW

Contingency Planning – A key to acquisition success?!

Introduction To start with, let’s define the term “Contingency Planning.” Contingency Planning is specifically referred to you creating a plan (a contract) that defines what to do with your business in case of your death or disability (temporary or permanent). Given the regulatory environment you exist within as a financial advisor, and the limitations that FINRA’s continuing commission policy places on you (IM-2420-2), it is prudent to come right out and say it – YOU NEED A PLAN. And not just for the obvious reason of taking care of your clients and extracting the value your family deserves. A contingency plan can be the key to a successful acquisition. Here are two major reasons: 1. Most advisor sales/acquisitions have all or a part of the purchase price that is seller financed on an earn-out, promissory note, or combination of the two. This means the seller is going to loan you money over some period of years. They WILL require that you have a plan in case something happens two years into the deal, and insurance is only part of the solution. They want to know that you are a responsible business owner and have a plan for your own business, so they can rest assured that if something happens, your clients (and theirs) will be left in good hands (and that the balance of the note/earn-out will be paid). 2. Contingency planning is a fantastic way to build your acquisition pipeline. If you asked 100 advisors who are over the age of 60 about selling their practice to you, statistically you might get lucky and find one that is interested in talking. However, if you asked the same 100 advisors about their contingency situation, you’d find that most know they should have a plan in place, but don’t. If you asked them about working together to create some type of death/disability plan, you will get a lot more positive responses. So how does that turn into an acquisition? When I help advisors create these types of plans, my first recommendation is to communicate the plan to the key stakeholders (i.e. the clients, OSJ, BD, spouses, etc.). Once the clients have been told about you and your role the contingency partner, you will be the first person the advisor thinks of when its time to start slowing down. I have helped many of my clients create two or three of these plans each year, and I can tell you this strategy pays dividends. It will take time, but it is a valuable part of the acquisition strategy. It also provides a great service for the advisors you create a plan with, because the alternative (dying without a plan) makes for a very unfortunate story.