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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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2 min read

Succession Resource Group Announces Sale of $420 Million AUM Ameriprise Advisory Practice

Aug 13, 2019 8:00:41 AM

Portland, Ore. (Aug. 13, 2019) – Succession Resource Group (SRG) is excited to announce the sale of Orlando, Florida based Santiago & Associates (Santiago), an Ameriprise Platinum Financial Services practice owned and operated by Conrad Santiago, an independent Private Wealth Advisor affiliated with Ameriprise with $420 million in assets under management. The purchaser, Brent Trentham of The Trentham Urquhart Group (Trentham), is based in Tennessee and was named one of Forbes Best-in-State Advisors of 2019 and Barron's® "Top 1,200 Financial Advisors: State-by-State Ranking”. Mr. Trentham was also a member of the Chairman’s Advisory Counsel (CAC) from 2005-2016.

Kristen Grau, EVP of SRG, said, “Santiago’s practice was the opportunity of a lifetime for the right buyer. Conrad’s had a tough decision because we garnered a lot of really good offers from a lot of really qualified buyers.” SRG began working with Santiago in early 2018, providing consulting to his firm regarding optimizing the business’s profitability, then in September 2018 Santiago retained SRG to represent him with the sale of his practice, sourcing and qualifying candidates, and negotiating the sale of his firm using SRG’s Seller Advocacy Program. Santiago’s primary focus was 1) Keeping the staff intact with increased professional development and opportunities, including his daughter, Nicole Santiago; 2) Finding a buyer who was a good cultural fit for the clients; 3) Remaining active in the business post-sale with a commensurate compensation package. Santiago expressed that “SRG was professional and took care of every detail from start to finish with immense effort and diligence.  I’m particularly pleased with the fact that SRG was able to help me fulfill all the objectives that I established early in this process. It’s going to be an honor to work for my new boss, Brent!”

Through the vetting process, SRG identified over 97 interested buyers inside Ameriprise, then screened based on the seller’s objectives to get to 11 elite buyers. SRG assisted eight advisors who were asked to submit offers, which ranged from 4.28x to 6.28x earnings. After careful consideration, Santiago selected Trentham as his successor, obtaining a 5.70x earnings multiple. Grau stated, “In the end, Trentham was both a great fit for what Santiago’s business needed and provided a great offer. We couldn’t be more thrilled – Santiago and Trentham are two of the nicest advisors we’ve worked with.” Trentham remarked, “Succession Resource Group was instrumental and informative throughout the acquisition process.  They were always diligent in handling any questions I had as well as working with all of the other professionals involved in the deal.  It would have been much more difficult without their direction.”  

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.

Succession Resource Group
David Pan – PR & Marketing Coordinator
Phone: 503-683-8959, ext. 3

Topics: Press Release
David Pan

Written by David Pan