There’s a big difference between just knowing you’re the best and proving you’re the best to a seller who doesn’t know you at all.
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Creating a succession plan can be a momentous task, leading to a transition that transforms not only the business, but lifestyle of everyone involved. It often takes a team approach to cover all aspects of the transition and the personalities involved. We understand our strengths and our limits in the planning process, and embrace the opportunity to work with diverse professionals, coaches and consultants. Each brings something new and valuable to the table, and their role in the process can be as unique as the business going through transition. This guest blog is part of a series featuring some of our partners and colleagues who contribute to the succession planning process and supplement FP Transitions’ analytical and strategic skill set.
Our first guest blogger, Marty Kurtz, CFP, is a past president of the FPA and a terrific example of an advisor who transformed his business and gained the flexibility to move on to a new, meaningful chapter in his career. After completing his own succession plan, Marty launched Turning Point, a coaching program centered on a 3-day getaway where successful advisors can gather with a small group of their peers to focus on their vision for the future. In his own words, Marty explains what led him to create this valuable retreat, and how Turning Point fills a void for his fellow professionals.
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Topics: Succession Planning, Guest
You owe it to your clients to build something concrete that will last through the time of their needs, not just the span of your career. This video shows you why you should create a strategy that will support a multi-generational business.
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Topics: Succession Planning
It's rare that an initial meeting between seller and potential buyer occurs face-to-face. So, how do you make a good first impression without appearances? Keeping your professional etiquette intact is often more important than the cash on the table.
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Topics: Acquisition, Tip of the Week
We've got some exciting news for 2016: a new book!
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Topics: Announcements, Buying & Selling, "Buying, Selling, and Valuing Financial Practices", Published
We all speak in what ifs and maybes when we're chatting with friends and colleagues. But casual conversations when there's a potential acquisition in the picture can have consequences when you move your discussion to the negotiating table.
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Topics: Acquisition, Tip of the Week
Simply expressing interest in a practice for sale is sometimes not enough to get noticed. One important piece of the puzzle is making sure you're known, and there's a background in place when you throw your hat in the ring.
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Topics: Acquisition, Tip of the Week
Revenue Strength: the cash flow, expenses, and assets of your business.
Enterprise Strength: the infrastructure that supports revenue growth.
Can a business really thrive with just one? In short, no. Each supports the other and together they drive your business to maximum value. In our new webcast, Christine Sjolin takes a look at how enterprise strength and revenue strength differ, and how they work together to open up your choices for future business growth and exit planning.
Enterprise Strength: the infrastructure that supports revenue growth.
Can a business really thrive with just one? In short, no. Each supports the other and together they drive your business to maximum value. In our new webcast, Christine Sjolin takes a look at how enterprise strength and revenue strength differ, and how they work together to open up your choices for future business growth and exit planning.
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Topics: Webcasts, Equity, Revenue Strength, Enterprise Strength
The decision to sell is difficult, and emotional. Sellers worry about leaving their clients in good hands as they move on to the next stage of their lives.
This week's Acquisition Tip is about proving that those hands are your hands.
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Topics: Acquisition, Tip of the Week
With an average 50:1 buyer to seller ratio, advisors are looking for a leg up on the rest of the buyer pool. But you can’t find your “edge” until you’ve taken care of the basics.
These weekly tips will provide you with basic steps EVERY buyer needs to take to be successful in the acquisition marketplace, as well as helpful acquisition resources for further review.
Read on for Tip #1.
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Topics: Acquisition, Tip of the Week