Why Sell My Financial Practice

Why Sell My Financial Practice?

What we are doing:

We are launching SellMyFinancialPractice to assist individual advisors, who are at or approaching retirement and do not have a continuity and succession plan.  Our goal is to help these advisors sell their practice and ensure their clients continue to receive the service and advice they need, and the advisor can maximize the value of the business they have built.

The problem we are trying to solve:

The average age of financial advisor continues to increase as advisors continue to near retirement age without a formal succession plan.  Most financial advisors know they must put a continuity and succession plan in place, but the reality is few do, and often only do when they are forced to by a life event.  Leaving the clients to disperse and the advisor to try to sell their business to the most convenient buyer. 

Our Solution:

While most succession planning websites and programs are overrun by buyers looking to acquire large firms, our target audience is financial advisors looking to sell their practices.  More specifically solo entrepreneurs who have built a successful boutique business (under 1 million in annual revenue) with loyal clients, however, do not have the time, resources, or information they need to identify the right successor for their business and how to sell the business.  All our content and information are intended to provide straightforward advice to potential sellers.

Many advisors tend to over complicate the succession planning process, so we have broken it into 4 easy steps: value, protect, maximize, and realize. We also provide consultative services for each step to help implement the steps.  The primary differentiator between SellMyFinancialPractice and other platforms is when the advisor is ready to sell, we will assist them in doing it.  By either providing a buyer from one of our affiliated firms or providing them with a deal structure and an offer they can shop to potential buyers.

If you would like more information about the platform or discuss our business strategy, please reach out to Malcolm Thomas at 615-528-5725 or malcolm@askifg.com.