This high-touch IAR/RR practice in Illinois takes a consultative family office-style approach to wealth management. They offer, among other things, holistic financial planning and diversified portfolios. The practice services 101 high net worth households which have an average client tenure of 15 years. 2020 year-end annual gross revenue for this practice was approximately $608,000, of which 85% was generated from managing over $75 million in assets.
The preferred buyer for this practice would be a mid-sized firm with a CFP® on staff and be committed to providing the seller’s clients with the same quality and proactive service they have come to expect. The buyer must be willing to provide the practice’s principal with a 3-year glidepath to retirement.