Buying and selling books of business
Does anyone know of websites or resources for those looking to either buy or sell a book of business?
Has anyone on here bought a practice in the past? If so could you share some details. Pricing, pluses, minuses. I've built my own book, but have often wondered what these books are actually selling for, and if client retention is an issue.
I have neither bought nor sold although I have a coworker who was at a wire in which someone bought for 1.5x t12 but paid it out over a 3 year period. This smooths out the risk of retention and market depreciation of the book.