Summary: Given the oft-cited graying of the RIA industry, many advisers seek to monetize their businesses and provide continuity for their partners and clients alike. Acquisition negotiations raise numerous difficult issues, but a threshold hurdle is how much a prospective acquirer believes an RIA is worth versus the owner's perception of its market value.
 Within one or two meetings, we'll discern if the owners are enthused by the prospect of becoming long-term partners, sustaining relationships with their clients and building a business with us; if they can visualize a valuable role for themselves within our organization; if they are comfortable with the economic realities of our business; and if they seek to share a strong sense of camaraderie."
Richard Hough III, chief executive officer and president, Silvercrest Asset Management Group.
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