Transforming Your Practice into a Business White Paper

Transforming Your Practice Into a Business

Building your business the right way is an important element to ensuring sustainability. Unfortunately, there are key elements many business owners forget to take into consideration – including compensation structure, equity pathways, cash flow, and entity set-up.

Business Growth  |   Entity & Business Structure  |   Internal Succession


Grow Your Business 6 Ways to Grow Your Business

What should you focus on in order to meet your growth goals for this year and beyond? Areas like human capital, acquisition strategy, technology, image, and client demographics are all key to successful growth. Don't overlook these six avenues to accelerate your business growth.

Business Growth  |   Next Gen Talent  |   Acquisition


Financing to Fuel Growth and Acquisition - Working Capital Loans Financing to Fuel Growth, Acquisition, & Succession - Working Capital

A working capital loan can be used to boost business growth as you prepare your strategy whether it includes acquisition, internal succession, or otherwise. These loans are specifically designed with financial advisory businesses in mind with terms made it easier for long term growth. 

Business Growth  |   Acquisition  |   Internal Succession


Merger White Paper Mergers: A Focus on the "M" in "M&A"

Mergers create an opportunity for two or more practices to come together, combining staff, strengths, and cash flows, expanding virtually overnight into a larger, stronger business. In this white paper you will discover how different mergers can work for you plus a comprehensive strategy for executing a successful merger.

Acquisition  |   Next Generation


Understanding the Value of Your Business Understanding the Value of Your Business

Owners–and prospective owners–need to accurately determine the value of their financial services practice, understand what drives that value, and learn how it can grow in order to effectively manage their equity and build an enduring business.

Valuation & Benchmarking  |   Business Growth


Maximizing Value through Benchmarking Maximizing Business Growth Through Benchmarking

The average advisor faces a difficult and increasingly competitive industry. With increased regulatory oversight, technological advances, and the growing need to recruit and retain top talent, it has never been more critical to use benchmarking as part of your strategic planning process. Arming yourself with the best insights into your own business–as well as its place in the industry as a whole–will allow you to nurture business growth.

Valuation & Benchmarking   |   Business Growth

  


3_pillars The Three Pillars of a Successful Advisory Business

FP Transitions President & Founder, David Grau Sr., JD, dives into the three pillars of a strong advisory business and explores how each one is integral to the ongoing growth and sustainability of the enterprise. Working on the foundations of your business is an integral process that both encourages and supports growth in a perpetual cycle of success and profitability.

Business Growth   |   Entity & Business Structure

 


_buildings_fromground Defining Your Enterprise: Taking Stock & Moving Forward

Whatever the goal, we have found a targeted terminology helpful for classifying and discussing financial advisory enterprises. It allows us to offer tailored advice to each and every client, and to be as precise as possible in addressing different areas of growth and sustainability. These industry-specific descriptions of "job/book," "practice," "business," and "firm" in this post are guides for determining where you are today, where you’d like to be five or ten years from now, and what will be required in the meantime.

Business Growth   |   Entity & Business Structure


Creative Acquisition Approahes Creative Acquisition Approaches

Alternative growth strategies and where to find the right businesses and owners to partner with to achieve your goals. By thinking broadly, and more strategically, you open up your options and increase your chances for success.

Business Growth   |   Acquisition

 

 


10 Reasons to Professionally Value Your Business 10 Reasons to Professionally Value Your Business

Your practice is your most valuable asset, and by valuing it, you are empowered to grow, protect, and realize the value you have built. These are ten of many situations where it’s essential to have a current value and accurate understanding of your business, including external sales, acquisitions, legal disputes, and planning for the future.

Valuation & Benchmarking   |   Business Growth

  


Revenue Strength vs. Enterprise Strength Revenue Strength vs. Enterprise Strength

Your business is more than just an income source. What are the differences between revenue strength and enterprise strength? How does each make an important contribution to the value of your business? Pay attention to ALL factors that drive current and future value to avoid closing off exit planning options down the road.

Business Growth  |  Value & Benchmarking


Organizational Structure Organizational Structure

As businesses evolve they tend to move into a structure where value is attached to individual books rather than to the as a whole. To avoid this you need to set up a structure that is a business unit instead of just an accounting conduit. This webcast explains how improper structure can be dangerous for the ongoing growth of your business.

Business Growth  |   Compensation


Setting Up the Proper Business Structure
EMS Exclusive Resource

Too many advisors focus on revenue strength as the sole measure of their success, but creating and building enterprise strength is just as important for growing value. Maximizing enterprise strength depends on the selection of the proper entity for your business, the proper organizational structure within that entity, and the proper compensation structure for the cash flow of that organization.

Business Growth   |   Entity & Business Structure  |   Compensation


Building the Team - Roundtable Talk w/ Colleen Jordan Hallinan Roundtable Talk - Building the Team
with guest Colleen Jordan Hallinan, Qii Consulting

In this second Roundtable Talk with Colleen Jordan Hallinan of Qii Consulting, she shares ways to identify different personality types and work styles. Harnessing each individual's unique strengths creates a team that promotes the success of the business as a whole.

Internal Succession   |   Business Growth  |   Next Generation


What are You Building? Ship vs. Liferaft - What Are You Building?

When it comes to understanding an "equity-centric" business model the structural details can be difficult to grasp. The parable of ship vs. liferaft will help to illustrate the problems many independent financial advisors face when trying to evolve their structures as they progress from a job to a practice, and ultimately, to a business.

Business Growth   |   Entity & Business Structure


Advanced Considerations for Succession and Equity Advanced Considerations for Succession & Equity 

In this webcast, VP Eric Leeper, CFA explores the concept of equity and how it fits into your business plan. We'll show you how adding equity compensation to your structure benefits everyone, and supports an enterprise that will continue to work for you long after the traditional retirement date.

Compensation  |   Internal Succession  |  Business Growth


8 Considerations for your Merger Strategy 8 Considerations for Your Merger Strategy

You and the rest of the ownership team have decisions to make about the merger process itself, as well as decisions to make about the business you’ll create.  These details should not be left for discovery and sorted out mid-process, but should be understood and planned for before implementing your merger strategy.

Business Growth   |   Entity & Business Structure

 


The Process - Roundtable Talk w/ Colleen Jordan Hallinan Roundtable Talk - The Process 
with guest Colleen Jordan Hallinan, Qii Consulting

In the last of our Roundtable Talks with Colleen, she shares the philosophies and process for her "after advising" enterprise: helping other advisors build stronger teams for greater success. She walks through some of the assessments and strategies that serve the core of her methodology.

Internal Succession   |   Business Growth 


Bates4.png Compliance Audits & Practice Value
with guest David Birnbaum, JD of Bates Group

Join Marcus and special guest David Birnbaum, JD, of Bates Group as they discuss the impact of compliance on business value, as well as the importance of internal compliance audits to stay ahead of any regulatory issues and correction periods that come with them.

Tax & Regulatory Issues   |   Valuation & Benchmarking  |  Acquisition 

Continuity Planning White Paper Continuity Planning

Proper continuity planning is one of the most important, and most overlooked aspects in most financial advisory practices. This white paper covers the best practices for continuity plans - for practices of all sizes. Included are basic Dos and Don'ts, how often you should update your plan, and how to find a continuity partner.

Continuity Planning  |   Business Growth


How to Inquire How to Successfully Inquire on the Open Market

Key tips for writing a concise, but comprehensive communication to the seller via an inquiry. This post highlights different details to include, like education, designations, investment philosophy, future plans, and more. We also explores some common mistakes made by eager buyers that could be detrimental to their success in the listings process.

Business Growth   |   Acquisition

  


Industry Headwinds + M&A data Industry Headwinds + M&A Data Release

In this webcast President and Founder David Grau Sr., JD and VP Eric Leeper, CFA explore some recent industry issues. They cover current M&A database findings, the concept of attrition and what it means for your business' long term value, and how working towards a concrete plan will help you fare the headwinds–or avoid them all together.

Regulatory Issues  |   External Sale  |   Exit Planning


Creating an Internal Ownership Track
EMS Exclusive Resource

Recruiting and developing a skilled team of advisors can be a daunting challenge for the owner of a financial advisory practice. Doing that, however, is only half the battle. Once you’ve chosen and trained your next generation how do you hold on to them? How do you keep them from opening up shop across the street? Create an ownership track and make the opportunity available to the best on your team.

Internal Succession  |   Compensation   |   Business Growth   |   Entity & Business Structure


Life After Advising - Roundtable Talk Roundtable Talk - Life After Advising
with guest Colleen Jordan Hallinan, Qii Consulting

In this first in a series of special Roundtable Talks, Colleen talks about her own journey to life after advising, and how finding the right people to take over the business made all the difference. 

Internal Succession   |   Business Growth  |   Next Generation


Book Review: Successful Hiring for Financial Planners BOOK REVIEW: Successful Hiring for Financial Planners by Caleb Brown, CFP

FPT Elite Client Consultant Kem Taylor shares her thoughts on Caleb Brown’s Book Successful Hiring for Financial Planners: The Human Capital Advantage. She highlights the most impactful sections and how advisor/owners can best utilize Caleb’s advice to grow their own staff, and with it, the business as a whole.

Next Gen   |  Business Growth   |   Internal Succession


Bates3 Thumbnail landing page.png Roundtable Talk - The Art of Compliance
with guest David Birnbaum, JD of Bates Group

In this second of our Roundtable Talks series with Bates Group, David Birnbaum, JD, talks about the importance of getting to know a business and its people in order to effectively help them keep up with compliance.

Tax & Regulatory Issues   |   Business Growth


Bates4.pngGovernance & Control for Shifting Ownership 
EMS Exclusive Roundtable Talk

FPT transactions experts Rod Boutin, JD and Ericka Langone, JD discuss common areas of governance and control that many owners (existing and future) have concerns about during any (re)structuring or additions to the ownership of a financial services business.

Deal Structure & Documentation  |   Entity & Business Structure

Bates4.pngEvery Merger Is Unique 
EMS Exclusive Roundtable Talk

Our Rod Boutin, J.D. and Ericka Langone, J.D. discuss the uniqueness of each merger transaction using three real life examples from the FP Transitions portfolio. The examples range from a complex 3-way, multi-owner consolidation, to a more common combining of efficiencies and resources, to a planned merger as continuity for two small businesses. 

Business Growth   |   Deal Structure & Documentation


RT2-Robo.png Roundtable Talk - Robo Advisors
EMS Exclusive Resource

Marcus Hagood and Douglas Kreft, focus on the opportunities robo advisors present for financial advisors to emphasize their value proposition and expand their client bases. With investment management technology at investors’ fingertips, are we seeing a precursor of a larger threat to advisor services in coming years?

 Next Gen    |   Roundtable Talks


Bates1 Thumbnail landing page.png Roundtable Talk - Compliance & Acquisition
with guest David Birnbaum, JD of Bates Group

Monitoring compliance and keeping up with regulations is important for the operation of any financial services business. In this first of our special series with Bates Group, Join Marcus Hagood and special guest David Birnbaum, JD to discuss how compliance impacts an acquisition and the impact of current events on compliance and the industry.

Tax & Regulatory Issues   |   Acquisition External Sale


Valuation vs Appraisal.png Roundtable Talks - Valuation vs. Appraisal
EMS Exclusive Resource

FP Transitions' valuation experts, Ryan Grau, CVA, CBA and Warren Burkholder, ASA, MCBA, CBI, go in-depth into the differences between valuation and appraisal, the importance of having a certified valuation analyst, and how the purpose of valuation informs the methodology for the most accurate value.

Valuation & Benchmarking    |   Roundtable Talks


MergerBeyondNumbers_thumb Roundtable Talk - Mergers: Prepping Beyond the Numbers

Experts Rod Boutin, JD and Ericka Langone, JD explore preparation beyond determining value. They highlight the importance of reconciling the expectations and goals of all parties, the considerations that may warrant an assigned premium share value, and the benefits of a holistic approach to the entire merger process.

Business Growth    |   Next Gen    |   Entity & Business Structure


Revenue Splits are Not a Succession Plan Revenue Splits : Not a Succession Plan

Even with all the modern tools of practice valuations and equity management solutions, some financial advisors are still choosing to use revenue splits as a compensation structure and succession plan. As an independent financial advisory owner, this is a poor and shortsighted business decision for several reasons.

Internal Succession   |   Entity & Business Structure   |   Compensation


If at First You Don't Succeed If At First You Don't Succeed

The buyer pool is still vast and sellers have become more selective about who takes over their business. It's about fit, not just who has the highest bid. As a buyer prospect in this rapidly changing and growing industry, trying hard and trying often is not enough. In this excerpt, we highlight the patience, drive, and improvement required to be a successful buyer.

Business Growth   |   Acquisition


Using Bank Financing To Expand Your Options

Whether you're considering selling your business externally to the best qualified buyer, or internally to a team of proven successors, bank financing solutions can provide powerful tools to reshape or accelerate your plans.

External Sale  |   Internal Succession  |   Acquisition  |   Business Growth


Comprehensive Services Overview

A comprehensive overview of our services. Including the Equity Management System (EMS), Succession Planning Program, our Open Market Listings, and M&A Consulting

Valuation & Benchmarking  |   External Sale  |   Acquisition  |   Internal Succession  |  About FP Transitions


EquityBuilder Benchmarking Report Overview

An overview of what information is covered in our EquityBuilder Benchmarking Report and why it’s key to building your business. An annual EquityBuilder Benchmarking Report is included in your Equity Management System (EMS) membership.

Valuation & Benchmarking  |   Business Growth  |   About FP Transitions


Organization Growth - Client Success Story (Cornerstone Wealth) Organizational Growth - Client Success Story

Unexpected circumstances forced Floyd to quickly reduce his work hours at his firm, Cornerstone Wealth, from 45 to 20 hrs a week. Too young to retire, Floyd incorporated existing staff into the ownership structure to ensure his business not only survived, but thrived. In this client success story the team discusses the transition and their new ownership mentality.

Internal Succession  |  Next Gen Talent  |  Entity & Business Structure