When it comes to finding the right buyer, the prospective buyer pool need not be large if it is filled with candidates that fit your criteria and are willing to meet your terms. This case study follows the story of one seller who was left at the proverbial altar by a qualified buyer, then found a better match–and an above market offer–using the FP Transitions open market system.
The decision to sell is a difficult one for any advisor to make. After a lifetime of work to build your business, and after years of earning your clients' trust, how do you turn the job over to someone else? When selling your practice, you get one chance to do it right. This case study provides insights into the process and illustrates the opportunities–and the mistakes–that many sellers make.
This case study thoroughly details one seller’s experience, from valuation, to narrowing the inquiries, to meeting the candidates and, finally, making her selection. Explore some of the often glossed over aspects of the process, like what comes after a seller develops their short list and before they choose a buyer, including: first meetings (and first impressions), broker-dealer pressures, and realities.
Laurie Nichols RLP, CPC & ELI—MP of Laurie Nichols Coaching shares transition experience including the unexpected personal anxieties that come with selling the business she'd spent 20 years building and leading. In this post, Laurie uncovers the secret to facing cold feet, and moving on – happily – from a career in financial services to her next adventure