SUCCESSION PLANNING

For most successful advisors, protecting their family and leaving a legacy is the most important aspect when selling their practice. While price and terms are important, the fit between buyer and seller is the paramount consideration. “Selling a Practice is Not Just About Price” We are experts at helping both buyers and sellers navigate the complexities of transitioning a practice.  The process can be emotional for both the buyer and seller and it involves a significant commitment of time and resources.

Succession Planning Services-SPS facilitates the entire process from:

  • business valuation
  • practice profiles
  • initial introduction
  • bidding
  • negotiating
  • sale agreements
  • tax strategies
  • promissory note agreement
  • due diligence
  • client notifications and events
  • retention strategies
  • transitioning the practice and
  • exit goals

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Navigating the complexity of succession planning issues can be a challenge. In addition to price, there are many factors to consider when buying, selling, merging, or transitioning a practice. At Succession Planning Services-SPS, we know exactly what steps to take to ensure a successful deal for all parties involved. We can provide you with guidance and support for all aspects of your transition. We have partnered with some of the premier advisors in the industry to facilitate successful sales between advisors within the same broker-dealer. Generally, the most successful transition occurs when a practice is bought and sold

This arrangement is advantageous for everyone because:

    • The SELLER usually finds a better match and receives a premium for their practice, because the buyer can more accurately value the practice and is more likely to retain the clients and assets.
    • The BUYER worries less about client attrition, because there is no need to transfer the book of
      business to another firm.
    • The CLIENTS experience a smooth transition to the new advisor, while remaining with a

company that they already know and trust.

    • The BROKER DEALER supports the process, because the assets are maintained within the firm.

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