Tips and Best Practices on Buying or Selling your Practice
Wednesday, August 25, 2021
1:45 PM EDT | 10:45 AM PDT
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There has been a flurry of activity over the last several years around mergers and acquisitions of financial planning firms. Whether you are a buyer or a seller, you need to be prepared and understand the pros and cons of both options.
In this session, you will hear directly from advisors who have been buyers and sellers. They will share their personal experience, tips and best practices on what worked, what didn’t and what they wish they knew before they started the process.
Topics addressed include:
- Where do buyers find sellers and vice versa.
- Why defining your value proposition is critical to a successful deal
- How culture plays a key role for buyers and sellers
- The importance of understanding how deals are structured
- Whether the geographical location of your firm is a factor in closing a deal?
Approved for 1 hour CE:CFA®, CPWA®, CIMA®, CIMC®, and RMA®. Investments & Wealth Institute® accepts this webinar for 1 hour of CE credit towards the CIMA®, CPWA®, CIMC®, and RMA® certifications. If you provide the required information during the webinar registration process and stay for the entire LIVE event we will report your attendance to IWI. If you watch the ON-DEMAND event please email us at [email protected] for the IWI® webinar ID to self-report your attendance.
Junette McCarthy is a top producer at FSC. She’s located in Orange County, CA. She has been gracious enough to help us with other events like this and does a fabulous job. Junette is literally a former “rocket scientist” with a background in engineering and space satellite design. We’ve done multiple deals with her and she has a unique perspective of having been both a buyer and a seller in these deals. She also has articulated the “what I did right and what I did wrong” theme.
Jon Webb is a top producer with Royal Alliance in CT. He entered into a continuity agreement with another Royal Alliance rep and as we were doing the preliminary work to put the actual deal in place, the seller died. We had to scramble and make this succession plan successful for the seller’s beneficiary and clients. We were able to do this and even go through the commercial underwriting process to fund the purchase price. This all had to happen incredibly quickly. We were able to do this, but all of us learned valuable lessons along the way.
Todd Fulks, JD
Senior Vice President, Succession & Acquisition
Todd Fulks is Senior Vice President with Advisor Group. In this role, he represents the Advisor Group platform of services to the broker-dealer community, working specifically with existing financial professionals looking to sell or acquire a business, either inside or outside of the organization. Todd works with existing financial professionals to develop and implement continuity plans to protect a business and assets in the event of death or disability of a financial professional. Todd has created and maintains resources available to help financial professionals with succession, acquisition, valuation and continuity needs. He also works with financial professionals and their outside professionals to implement plans specific to their circumstances. In his career, Todd has completed approximately 1,500 M&A deals. Todd is responsible for creating Advisor Group’s interactive matching platform called My Succession Plan (MSP). MSP is an intimate community for financial professionals interested in buying, selling, merging, finding or becoming a junior partner, valuation, continuity planning, business building and more. It involves sophisticated matching capabilities on a number of criteria, confidential electronic profiles, real time updates, valuation and lending assistance, deal structuring and documentation. Most importantly, it includes the industry’s leading experts to consult with financial professionals every step of the way. There is not a more robust platform in the industry.
Founder & CEO
Suzanne Siracuse Consulting
Suzanne Siracuse, Founder and CEO of Suzanne Siracuse Consulting, LLC, specializes in advising financial services firms on innovative business strategies, distinctive marketing programs and impactful advocacy initiatives around diversity, financial literacy and next gen talent.
Ms. Siracuse is also the Creator and Host of The Big Reveal Podcast Series where she interviews industry thought leaders and influencers on all things wealth management, but with a twist!
Ms. Siracuse is the former CEO and Publisher of InvestmentNews where she oversaw the vision and strategic direction for all their platforms including print, digital, events and research.
Under her leadership, InvestmentNews launched initiatives to support the evolution of the financial advice profession, specifically in the areas of Practice Management, Women’s Leadership, Diversity & Inclusion, Innovation, NextGen and Financial Literacy.
An industry thought leader, she is a sought-after speaker and moderator on topics ranging from investing and leadership to financial literacy and fintech.
Ms. Siracuse is also a founding member of the Invent Elite consulting consortium, which focuses on developing, launching, branding and operationally supporting broad based technology initiatives for financial services firms.
In addition, Ms. Siracuse is on the Board for the Invest in Others Charitable Foundation, is a member of the Council of Ambassadors for the IWI’s Thrive Center for Diversity and Inclusion and is a board member of Savvy Ladies.
In Nov 2020, Ms. Siracuse was recognized by InvestmentNews with the Women to Watch “Trailblazer” award for her commitment to DEI initiatives within the financial services industry.
Ms. Siracuse is an active volunteer at the Animal Rescue Fund in East Hampton, NY and an advocate for the humane treatment of animals.
She holds a BS in Business from Rider University. She, and her husband, Lee reside in New York City.