 The number one thing that we find in working with advisors who are buying practices is that the selling advisor thinks their practice is worth a lot more than it actually is."Matthew Halloran is the president of Top Advisor Coaching. |
Buying a Practice? 5 Important Valuation Questions
Matthew Halloran | Financial Planning, November 2013
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Summary: Practice acquisition (acquiring a retiring advisor's practice) is an incredibly lucrative way to grow your business exponentially, and as advisors age, there will be ample opportunity for younger advisors to acquire practices. In the next 10-15 years, there's going to be a glut of “for sale by owner” practices, but the simple fact is that they are not going to be worth the multiples that are being thrown around now. Here are five things to ask the selling advisor and the appraiser before you buy a practice.
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