PORTLAND, Ore. (Aug. 10, 2022) – Succession Resource Group (SRG) is happy to report another successful sell-side transaction with the sale of an AdvisorNet advisory practice based in Arizona. The practice, with approximately $50 million in assets under management, was acquired by Epic Trust Financial Group, LLC (Epic Trust). Epic Trust is owned by Jeff Lewis, who after rigorous negotiations to find a “win-win,” navigated the deal to a successful close with the assistance of Kristen Grau and Aliza Perry from SRG’s Seller Advocacy team.
In an effort to create continuity for the 121 clients, Lewis was willing to retain AdvisorNet’s staff as well as their current office location, which was key in this acquisition. A major consideration for AdvisorNet was finding a successor willing to establish a relationship with their third-party asset manager, Portfolio Partners, which Lewis did in an effort to ensure minimal disruption for the clients.
Despite challenges this practice faced having been sold unsuccessfully once recently, SRG generated a substantial interest from its pool of registered members, garnering interest from more than 125 buyers. With AdvisorNet’s goals and requirements in mind, the SRG Seller Advocacy team refined the list of buyers to four, all of which worked with SRG to prepare their offers. In the end, SRG presented four offers that were at or above the asking price/terms.
Key Transaction Highlights:
Kristen Grau, CPA, CVA went on to share, “Despite a failed sale a few years ago and the resulting challenges, AdvisorNet was a great book of business with long tenured clients. We were happy that AdvisorNet elected to work with our firm and focused on finding someone who would ensure their clients were serviced properly.”
This sale represents the fifth sale facilitated by SRG this year.
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