Added on June 2014 in M&A Issues
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Summary: Planning industry elder statesman Harold Evensky and his team at Evensky & Katz have merged with a firm founded by a former client and employee to form a firm with $1.9 billion in assets under management.
Added on May 2014 in M&A Issues
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Summary: Move over, benchmarks and multiples. There's a new valuation tool in town: key performance indicators. While KPIs may not replace multiples of cash flow in a purchase agreement, they are becoming increasingly important as a way for owners of financial advisory firms to enhance the value of their business, according to Owen Dahl, president of Gladstone Analytics.
Added on May 2014 in M&A Issues
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Summary: Nancy Nelson never planned on selling her practice. "I thought my clients would gradually die, I wouldn't take their kids and my practice would just go down and down," the Olympia, Wash., planner told a crowded room at NAPFA's annual conference. Two things changed Nelson's thinking, she told listeners during a panel on selling a solo firm: She watched a friend sell her solo practice for a lot of money. Then, practically overnight, she wanted out herself.
Added on May 2014 in M&A Issues
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Summary: Online advisory services are beginning to have an impact on the valuations of financial advisory firms.The low prices and competitive threat of so-called robo advisors were cited as factors that traditional advisors must take into account when valuing their firms for mergers and acquisitions, say experts at Gladstone Associates' annual advisor conference in Philadelphia.
Added on May 2014 in M&A Issues
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Summary: Should RIA founders sell to an outside buyer or to junior partners already in the firm? The internal vs. external sale debate proved to be one of the liveliest at the recent Deals and Deal Makers Summit in New York.
