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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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Succession Resource Group Announces Sale of Hawaii Advisory Practice

Mar 13, 2020 1:06:27 PM

Portland, Ore. (March 13, 2020) - Succession Resource Group (SRG) is announcing the sale of deceased Hawaii advisor, Mr. Glenn Yabuki’s book of business (“Yabuki”) to Gail Hamada and Lincoln Koike of Hawaii Wealth and Legacy Planning Group (“HWLPG”). The sale represented over $97 million in assets under management, with all assets successfully retained by Ameriprise Financial Services, Inc. (“Ameriprise”), allowing Ms. Hamada and Mr. Koike to continue honoring Mr. Yabuki’s legacy.

After Mr. Yabuki unexpectedly passed away, Ameriprise Field Leadership immediately reached out to SRG to help work with the family to ensure the business was sold, assets were maintained, and a fair value was received. After speaking with Yabuki’s Family, their primary concerns were finding a Hawaii-based Ameriprise firm who would carry on Mr. Yabuki’s legacy, client service, dedication to his clients, and retain Mr. Yabuki’s key employee, Rie Shoji.

According to David Grau Jr., President of SRG, “Less than 10% of advisors we work with have a written death or disability plan. When something tragic like this happens, typically clients are reassigned, and the family receives nothing. Because Ameriprise field leadership immediately connected us with the family, we were able to work nights and weekends to ensure the Yabuki family had a better outcome.”

Through SRG’s Seller Advocacy Program, the deal was negotiated, funded and closed within 71 days. After careful consideration and meetings with the eight best candidates, the Yabuki Family selected HWLPG, receiving 100% cash down with a multiple of 2.59x, and a long-term employment contract for Ms. Shoji, including being promoted to the position of Financial Advisor. Based on past distressed sales data from SRG, the average multiple received is 1.94x, indicating the Yabuki’s received 33.5% premium for Mr. Yabuki’s practice.

“Securing Glenn’s legacy for his family and clients was of the highest importance to our team, and when these kinds of tragic events happen, we know time is of the essence,” said Kristen Grau, Executive Vice President of SRG. She went on to say, “In the wake of tragedy, having to deal with the sale of a practice is one more added stress. We were happy we could assist during this challenging time for the Yabuki’s and have to thank their field leader Debra Bennett for taking such swift action and helping coordinate everything until the deal was complete. She went above and beyond for their family.”

The Yabuki family stated, “The entire SRG team was extremely helpful in guiding our family through this unexpected and unknown process.  They were professional, knowledgeable, and understanding…”

About Succession Resource Group

Succession Resource Group is a succession consulting firm specialized in helping advisors value, protect, merge/buy, and sell their financial advisory practice. With decades of combined industry experience, SRG brings a unique combination of skills, resources and industry expertise to help advisors.

Topics: Press Release
David Pan

Written by David Pan

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