ASSISTANCE BUYING OR SELLING A PRACTICE
Buying or Selling a Practice: Advisor Works Consultants are experts when it comes to buying or selling a practice. Our Advisor Works resources have conducted several sales and purchases of Financial Advisory practices. We have a check list of dos and don’ts which will help the Advisor receive the best result for his business whether he/she is buying or selling. Not only will an Advisor want the best result for himself but also for his/her client. The demographics of the client pool and the Advisor’s personality must be considered to achieve the best outcome in a sale/purchase.
Services Included
Note: A Practice advantage membership is not required for Advisors selling a practice to engage Advisor Works consultants.
Buying or Selling a Practice: Advisor Works Consultants are experts when it comes to buying or selling a practice. Our Advisor Works resources have conducted several sales and purchases of Financial Advisory practices. We have a check list of dos and don’ts which will help the Advisor receive the best result for his business whether he/she is buying or selling. Not only will an Advisor want the best result for himself but also for his/her client. The demographics of the client pool and the Advisor’s personality must be considered to achieve the best outcome in a sale/purchase.
Services Included
- Analysis of client list and recent revenue stream – establishing a value
- Examination of different payment options
- Dealing with attrition – what to expect, how to reduce, options for allocating risk
- Making/receiving the offer
- Negotiation of price
- Contract preparation
- Frequency of payment
- On going adjustments to price
- Dealing with existing supplier contracts
- Indemnification for client complaints requiring settlements
- Clauses to deal with breach of contract, non-payment, death or disability of advisor, remedies
- Non-compete/non solicitation clauses
- Dealing with head office
- Compliance requirements
- What to expect administratively and how to prepare
Note: A Practice advantage membership is not required for Advisors selling a practice to engage Advisor Works consultants.