TRANSITION TALK

Offers in the Mail

Posted by David Grau Sr., JD on Apr 30, 2020 1:13:11 PM

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For many financial advisors, it has become commonplace to receive unsolicited offers in the mail. The offers to buy practices usually promise a competitive valuation and purchase price, great terms and future opportunities, and are backed by private equity, bank financing, or other cash reserves. More than anything, these letters bring hope, choices, and affirmation that an advisor has built something valuable and transferable.

Some of these letters arrive from well-known firms but many are from smaller, previously unknown suitors whose marketing strategy is to grow rapidly through practice acquisition. The advisors we talk to on a daily basis tell us about these letters dismissively at first, but they also say they keep the letters for future reference–just in case. Hope and choices are good things, even if they’re not needed today.

It is always flattering to be recognized, wanted, and valued, even if your name comes from a purchased mailing list. The more important point may be that these letters get many independent advisors, like you, thinking and wondering about the future. Questions arise: What is my value? What options do I have? Is this the best offer, or maybe the only offer, I’ll ever get? Can I sell my practice and keep working, given that I’m not ready to fully retire right now?

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Topics: Selling Your Practice, Acquisition, Due Diligence, Buying & Selling, Press Release, Transactions

Acquisition Tip of the Week #9

Posted by FP Transitions on Jan 13, 2016 10:09:00 AM

In our experience, the smoothest, most successful deals come from buyers and sellers who build a rapport, and cultivate trust through transparency.

 

Don't forget to subscribe to get future acquisition tips and the latest news right in your email.

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Topics: Acquisition, Tip of the Week, Due Diligence

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