Navigating Uncertainty in Turbulent Times  [NEW RESOURCE]

Posted by Jessica Villagrana on Jan 10, 2017 10:31:48 AM

Turbulent Seas

Rough Seas

In the heyday of maritime exploration, traveling the world’s oceans promised adventure and immense risk. Turbulent seas and unfavorable weather endangered crews, threatened ships, and spoiled the best-laid plans. Seasoned captains applied skill and experience to determine whether to proceed with caution or seek haven; decisions that couldbring adverse consequences or reap rich reward. 

As the captain of your business, you’ve undoubtedly surveyed the course ahead and evaluated the inherent risks and rewards. Are you prepared to weather these seas? Or is it time to pull into safe harbor? 

The Seascape

At the turn of the New Year, there is no denying that turbulent times are upon us. The close of 2016 saw many feeling optimistic and resolved, and left others battered and bruised. On the homefront, our nation is tentatively stabilizing after a highly contentious election cycle. The new administration seeks to create a more favorable domestic business environment by relaxing regulatory constrictions and introducing tax cuts. Investors await what will translate into practical policies while keeping a wary eye on the global stage. Uncertainty in Britain, the euro zone, Russia, China, and Japan lead to concern over political risk, corporate profits and changes in monetary policy. Indeed, our industry rings in 2017 in a climate of both risk and opportunity.

“O Captain! My Captain!”

You’ve navigated your business and clients through turbulent times before, but perhaps your own circumstances have evolved. You may be looking forward to retirement or feel the need for a lifestyle change. Or rather, the prospects of a more favorable tax environment may indicate an attractive opportunity. Whatever the reason, you’ve determined that the time is nigh for an exit strategy.

For many advisors, an exit strategy entails the internal or external sale of the business. The selling process encompasses many important considerations including where to start, what to expect, and how to succeed. You only get the chance to sell once and it is imperative that you get it right the first time. How will you proceed into these uncharted waters?

Your Command; Your Charts

A high-quality, valuable exit strategy is one in which the captain commands the entire transition process, from valuation, to listing to documentation, to close – an overall process that requires in-depth analysis, extensive planning, and precise execution. Are you prepared?

A successful journey depends on the quality of the navigational charts. Discerning advisors rely on experienced professionals who have charted the course hundreds of times before. FP Transitions has sold and transitioned over 1500 financial advisory practices. As the industry’s foremost authority on exit planning, our team has created a “Seller’s Checklist,”a guide to help you:

  • Prepare yourself and your business for the selling process.
  • Identify and evaluate your preferences and expectations of the sale.
  • Consider the realities of the journey: your investment of time and resources, secured confidentiality, accurate valuation, proper documentation, and rigorous due diligence.
  • Avoid surprises during the buyer selection process
  • Determine whether hiring third-party professionals is the right path for you.

Taking immediate steps to inform and prepare yourself for the complex selling process will greatly increase your chances of success. Whatever 2017 brings, you can’t afford to postpone planning for one of the most important events of your life.

DOWNLOAD: Plan for Sellers Checklist + Workbook


Topics: Selling Your Practice, Industry News