Portland, Ore. (Feb. 26, 2019) – Succession Resource Group is excited to announce the sale of Denver-based advisor Dorothy “Dot” Mechtenberg of Dot Mechtenberg, Inc. to Scott Forsyth of Capital Management Group. Both advisors are under Geneos Wealth Management, a boutique Colorado based RIA and independent Broker-Dealer. The sale represented over $75 Million in assets under management transitioned with all assets being retained on the Geneos platform.
Ryan Diachok, President of Geneos, shared his thoughts on the deal, “Myself and the entire Geneos team are thrilled with this transaction! … Dot was able to find the perfect succession partner in Scott Forsyth. Geneos not only is able to assist in helping a wonderful advisor close this chapter of an amazing career in financial services, but we continue to be a part of Mr. Forsyth’s continued growth as he builds his world class organization…”
Succession Resource Group first began working with Dot in late 2014, helping value her business and consult with her as she contemplated retirement. In early 2018, after looking at the various self-service bulletin board services, she committed to finding a buyer. Ultimately, she retained SRG for a full-service firm to help her find the best buyer and negotiate the sale.
Succession Resource Group reviewed many possible buyers, resulting in 27 qualified buyers who were affiliated with or willing to affiliate with Geneos. The group was reduced to four buyers who represented the ideal combination of personality fit, business acumen, and organizational structure. SRG worked with each buyer to construct offers. With four above-asking offers, Dot selected Scott, which allowed him and his company to expand its footprint. Scott presented a very competitive offer, in large part thanks to the financing he was able to obtain from one of SRG’s lending partners, Live Oak Bank. After the sale closed, Dot shared, “Succession Resource Group was simply fabulous! They could not have been any better with the entire process!”
With over 45 years in the business, Dot’s primary concern was to ensure that her successor took care of her clients the “Dot-way,” according to Erik Pahlow, Vice President of Succession Resource Group. He added, “Dot’s practice represented a tremendous opportunity for any buyer. One conversation with Dot and it’s clear she has wonderful relationships with her clients reducing any worry for client attrition.”
In third-party transactions, SRG transacted $88.1 Million in advisor sales with $6.7 Billion in AUM transferring in 2018.
About Succession Resource Group
Succession Resource Group is a succession consulting firm helping financial professionals’ value, protect, merge, acquire, and develop exit strategies for their business. With decades of combined industry experience, SRG possesses a unique combination of skills, resources and expertise to help advisors understand the value of their business, develop strategies to improve that value, protect it with comprehensive contingency and succession plans, and grow through acquisition.
For more information on Succession Resource Group, visit https://www.successionresource.com
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