We’re coming off an incredible year from mergers and acquisitions yet again. In fact, we closed out 2022 as one of our greatest ever for FP Transitions, and the same goes for Live Oak Bank. We took a moment to reconnect with James Hughes, SVP of Advisory Lending for Live Oak Bank, to break down the key areas advisors should consider before they enter the 2023 mergers and acquisitions environment.
Topics: Acquisition, M&A, Business Value, Deal Structure, Financing, Bank Financing, Buying & Selling, State of the Market, Next Generation, Valuation & Appraisal, "Buying, Selling, and Valuing Financial Practices", Sell and Stay™, Trends
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Growth can be enabled – or hindered – by your technology. And not only that, but it can also seriously erode your profit margin if it costs you clients, requires constant fixing, or slows down cross-department collaboration. But here’s the thing: NOT using tech is the bigger mistake you can make. With so many best-in-class solutions on the market (and more appearing everyday), certainly having something is almost guaranteed to be better than nothing…right? Let’s explore your best tech investments that enable revenue growth in 2023.
Topics: Business Growth, Industry News, Next Generation, Compliance, Client Retention, Wealth Management, Trends, Branding, Tech, marketing, Client Experience
"Think about those future goals."
"Hold steady and don't react to the market."
"Remember, we have a plan and it's still well on track."
Throughout the market roller coaster of the Pandemic and now with 2022 rearing its head, advisors are getting used to coaching clients through market volatility. What matters most in these scenarios are two things: first, a trusted relationship between advisor and client, and second, preparation and education to navigate these emerging challenges.
Topics: Succession Planning, Selling Your Practice, Business Value, Sustainability, Trends
Our summary of the independent advisory M&A market, including a look at real transaction data, context to help advisors understand what's driving the data, and an unbiased look at what's really going on out there.
Topics: Commentary, FP Transitions, M&A, Trends
Business growth is a never-ending, and ever-changing objective of all business owners; financial planners included. While the lingering social effects of the pandemic and the challenges of upscaling during the Great Resignation/ Reshuffle can make the task-at-hand seem insurmountable, there are still tangible ways that you can steer the course of your enterprise. Here are a few tips to help grow your financial planning business.
1. Invest in Human Capital
Most advisors have built their business from nothing into their single most valuable asset. Finding talent can be a challenge these days, especially with unemployment settling into lows not seen in over 50 years. Data from FP Transition's Valuation Database has indicated that businesses with multiple professionals accumulate assets at a higher rate than sole practitioners. As your business matures, it is imperative to invest in the next generation of talent, to keep the engine running while you begin to enjoy the reward for what you’ve built.
Topics: Acquisition, Multi-Generational Ownership, Business Growth, Tip of the Week, Revenue Strength, Enterprise Strength, Business Value, Buying & Selling, Next Generation, Talent Recruitment, Building Your Team, Client Trust, Business Operations, Trends