Succession Resource Group Closes Sale of $94 million AUM Boston RIA

Succession Resource Group Closes Sale of $94 million AUM Boston RIA

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Portland, Ore. (June 27, 2019) – Succession Resource Group (SRG) is pleased to announce the sale of Boston based Pension & Wealth Management Advisors (owned and operated by Neil McInnis) to George P. Webb (Webb). The sale represents over $94 million in assets under management.

SRG began working with McInnis in 2016, completing a business valuation and consulting with him regarding his retirement. In 2017, McInnis affiliated with an RIA consolidator, assuming this would allow for an easy transition and high-value upon retirement. McInnis quickly discovered that the cultural fit and offer to purchase were suboptimal, and in late 2018 retained SRG to find qualified candidates and handle the negotiations for the sale of his RIA. McInnis’ focus was finding a buyer that was a fiduciary, had the same integrity, and could maintain his level of client service.

SRG, using their extensive network of buyers and channel partners, identified 107 interested buyers, and through rigorous screening with McInnis, provided seven ‘elite’ buyers that SRG worked with to write-up an offer. SRG negotiated and obtained six offers above asking, of which McInnis accepted the offer from Webb. Kristen Grau, CPA, CVA of SRG said, “We are thrilled we were able to find Neil such a great successor. We work hard to focus on helping our sellers find that perfect combination of the right ‘fit’ and best offer. George was both of those things for Neil and will be a worthy successor.”

Following closing and funding, McInnis shared his insights, “The evolution of the advisory business can be daunting or rewarding and who you partner with is a major predictor of that outcome. SRG was instrumental in vetting candidates and in [Webb] partnering with me to build Pension Wealth into an enduring enterprise.” Webb added, “SRG provided a quality experience from start to finish. The team has a deep knowledge of the industry and were very effective in managing the transaction from the initial inquiry through closing. We look forward to using them in future deals.”

About Succession Resource Group

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

David Pan – PR & Marketing Coordinator



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