Not all prospective buyers start with a healthy practice and look for a roster of clients that suits their business
The key is finding a roster of clients that suits your business and showing that you are the right advisor to serve those clients
A checklist can help you decide which factors are the most important when you are considering purchasing a well-established practice. What is key is to keep your own priorities firmly in mind
In part seven of a multi-part series, “Keeping your practice compliant,” Ellen Bessner, partner, Babin Bessner Spry LLP, and Dan Richards, CEO, Client Insights, discuss the top three tips you need to consider when buying a book of business.
In part one of a six-part series, “Keeping your practice compliant,” Ellen Bessner, partner, Babin Bessner Spry LLP, and Dan Richards, CEO, Client Insights, discuss three key issues advisors need to consider when selling their book.
Advisors looking to buy a book of business have no shortage of options; however, they need to be aware of some key considerations
When Jerry Butler, president of Queenston Consulting Inc. in Winnipeg, helps financial advisors sell their books of business, he refuses to do all-cash deals with full payment up front. In such cases, the vendor usually walks away, with no further contact with the buyer or the clients. Butler, however, wants to ensure that vendors do […]
Expand the amount of business you do with your existing clients
When another advisor steps forward and offers to sell you his book, you may be tempted to just say yes. But you should ask several key questions - about your practice and about the other advisor's book - before you decide
There are some steps you can take that not only will maximize the value of your business when you're set to transfer it to another advisor in the future, but also will help to put your business on more solid footing today