2 min read

Succession Resource Group Announces Sale Of $65M AUM Ameriprise Franchise

X
LinkedIn
Facebook

PORTLAND, Ore. (August 10, 2022) – Succession Resource Group (SRG) is thrilled to announce the sale of a California advisory practice run by Ms. Amanda Johnson (Johnson). After weeks of communicating with SRG’s member database (one of the largest in the industry), combined with support from field leadership with Ameriprise, more than 140 buyers were interviewed from across the country. With a well-run practice of 173 clients, her Northern California practice quickly rose to the top of the charts for SRG, gaining interest from many of Ameriprise’s top franchises.

With more than twenty (20) years in business, Johnson indicated that her clients had become like family to her. She was committed to finding an Ameriprise buyer with their CFP® and a passion for helping people. She sought continuity for her clients, wanting a buyer that would retain her office and team.

This match between Johnson and Nolan could not have been a more positive experience for all involved, including SRG. “I’m so excited to have found the most incredible succession partner for us!” said Johnson.

After choosing SRG’s Seller Advocacy Program (SAP) to represent her interests, Johnson was ultimately presented with the most qualified candidates by SRG’s SAP team. Through a carefully crafted process, SRG’s team assisted Johnson in narrowing the candidate pool to a final group of three (3) who were asked to submit offers. With SRG’s support helping each of the three buyers craft competitive offers, Johnson shared that she was literally brought to tears during SRG’s presentation of offers. Johnson ultimately selected Carolyn Nolan of The Nolan Group (Nolan) who operates a thriving practice of her own based in Massachusetts. Johnson summed up her experience stating, “It’s everything I had hoped for and more!”

Key Transaction Highlights:

  • Over 140 qualified buyers submitted interest and were screen
  • All three (3) offers were at or above asking price and terms
  • A selling price that was 70% above ask, resulting in a multiple of 3.34x her payout
  • Seller received almost 90% cash at closing, with the remainder paid within six (6) months
  • Johnson took a position with Nolan for seven (7) months to support the transition and provide business development efforts

 

About Succession Resource Group 

Succession Resource Group is an award-winning Portland, Oregon based consulting firm specialized in helping advisors nationwide with valuation, M&A, succession, and practice management solutions. With decades of combined industry experience, SRG brings a unique combination of skills, resources and expertise to help advisors.

For more information, visit www.successionresource.com.

Contact:
Max Kroll | Marketing Manager
Max.kroll@successionresourcegroup.com

Picture of David Grau Jr.

David Grau Jr.

David Grau Jr., founder and CEO of Succession Resource Group, specializes in succession and M&A consulting for advisors. As a leading M&A consultant with a history of service in the United States Navy, David is recognized as a thought leader and accomplished speaker. He is prominent in the financial services industry, especially on topics related to M&A and next-generation strategies, having delivered over 200 presentations for organizations like the Financial Services Institute (FSI) and FPA.

FEATURED

POSTS BY TOPIC