Added on February 2014 in M&A Issues
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Summary: Peter J. Raimondi walked away from The Colony Group 20 years after he launched the Boston advisory firm with just nine clients. After expanding the firm to 650 clients and $900 million in assets under management, he wanted to shift the business focus toward asset management, a move that he had decided was key to further growth. His partners didn't agree, so he left.
Added on February 2014 in M&A Issues
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Summary: Securities America’s Roger Verboon relates what he sees on the front lines of advisor M&A: emotional hurdles for sellers, financial for buyers.
Added on January 2014 in M&A Issues
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Summary: Choosing a buyer for your advisory practice should be a piece of cake. The number of buyers vastly outnumbers that of sellers, so you should simply sell to the highest bidder, right? In most cases, that would be a costly and irreversible blunder, because much of the value of the deal comes in back-end payments. Thus, advisors need to do the due diligence to be sure that a potential buyer can live up to his or her promises. Once an advisor sells a firm or practice, there are no “do-overs.” You have to get it right the first time, because your retirement nest egg is riding on it.
Added on January 2014 in M&A Issues
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Summary: Yung advisers struggling to gain a critical mass of clients and bulk up their assets under management may want to find another firm to buy. Karsten Advisors, a Fort Worth, Texas-based firm with four financial advisers, all under the age of 40, has acquired nine advisory practices in the last 13 years to reach a total of $250 million in client AUM
Added on January 2014 in M&A Issues
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Summary: turns out advisory partnerships aren't that different from marriages, and with both, breaking up is no easy task. Professionals who help pairs of advisers decide whether to separate say the aftereffects deserve serious consideration, particularly because clients also will feel the heat
