Summary: Many independent advisors will be relying on the greater fool theory to strike a rich deal. Independents know that larger institutions and roll-ups routinely overpay for an advisor’s book of business. The word on the street is that buyers frequently overestimate how much advisors can grow their business.
 An independent wealth management firm that sells to a big bank or roll-up firm is no different than a broker who takes a big recruiting check from a wirehouse. The good news is that by remaining independent, an advisor can do right by clients and by themselves - creating no seller's remorse. This approach also allows advisors to walk the independent talk if of always acting in the best interests of the client."Jeff Spears, CEO, Sanctuary Wealth Services |
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