Selling Your Practice: Determining the Value of Your Practice, Increasing its Value and Putting a Plan in Place

Financial advisors may be the quintessential example of the old proverb, “the cobbler’s children have no shoes.” While adept at helping clients plan their financial futures, it turns out that many advisors can fall short when it comes to properly planning their own. It is estimated that over the next 10 years, nearly 70,000 advisors […]

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Selling Your Practice: Determining the Value of Your Practice, Increasing its Value and Putting a Plan in Place

Selling Your Practice: Determining the Value of Your Practice, Increasing its Value and Putting a Plan in Place

Financial advisors may be the quintessential example of the old proverb, “the cobbler’s children have no shoes.” While adept at helping clients plan their financial futures, it turns out that many advisors can fall short when it comes to properly planning their own.

It is estimated that over the next 10 years, nearly 70,000 advisors controlling more than $2 trillion in assets will retire. Yet, even though an advisor’s practice may represent his or her single largest asset, over two-thirds of advisors have not put into place an actionable succession plan.1

The failure to properly plan may prevent advisors from extracting the full value of their practice when selling it. This could potentially undermine advisors’ financial well-being in retirement since 55 percent of advisors expect that at least half of their retirement needs will be funded using the proceeds from the sale of their practice.2

To help advisors get started on a serious and committed effort to develop an effective and thoughtful succession plan, this white paper, “Selling Your Practice,” examines strategies and tactics to optimize the value of your practice, including:

  1. How to Value Your Practice
  2. The Types of Succession Plans, and Their Relative Advantages and Disadvantages
  3. The Drivers of Value
  4. A Blueprint to Get Started

Download the Full White Paper Here

About The Author

Bill Betz

 

Marketing Communications Coordinator 
631.439.4600, ext. 180 

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