In 20 years of helping financial practices transition, we have closed over 3,000 successful deals–both on the open market and through privately organized transactions. Each deal is different, but we have been able to identify certain key traits and behaviors that facilitate the most successful acquisitions.
1. Build a strong business foundation
Advisors who take the time to self-assess and build (even if it takes a few years) present as a better candidate to sellers. They have ensured their business has the cash flow and capacity to service an influx of clients. Successful buyers are those willing to put in the work to prepare their business, and take care to make the transition as smooth as possible for the outgoing owner and new clients.