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Valuing Your Life's Work
The Wicked Pissah Podcast, brought to you by the Financial Planning Association of New England (FPA® of New England), features discussions for financial professionals including topics of financial planning, recent or future events in the financial services industry, and interactions with influential speakers from across the industry.
This episode is hosted by Kathleen Kenealy and Chris Boyd. They are joined by Aaron Wells, Director of Financial Analysis at FP Transitions, to discuss how Aaron and the team here at FP Transitions help advisors measure and assess the value of their life’s work.
The stage of your business significantly impacts how you approach valuation. Solo advisory practices typically focus less on complex financial metrics. In contrast, larger enterprises, which may involve multiple partners or extensive operations, require a more detailed analysis. For growing practices, there’s a pivotal moment when advisors must decide whether to remain a small operation or transition into a larger enterprise. This decision involves crucial aspects of management and succession planning, which can affect both operational efficiency and valuation.
FP Transitions plays a vital role in supporting advisory firms through these transitions. Our process involves comprehensive data collection and analysis to assess a firm’s value accurately. We assist with multi-generational succession planning and business growth strategies, ensuring that practices are well-positioned for future success. By aligning your business metrics with your growth stage and understanding the difference between value and price, you can drive meaningful changes and build a thriving enterprise.
