Buying assets (AUM)

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Feb 7, 2007 10:03 pm

I'm in process to move from wirehouse to LPL-going independent. I don't expect to trasfer any significant assets with me, and I'm exploring options to Buy practices and assets (AUM). Any ideas/webiste or places where I can find willing sellers? Any marketing tips to buy assets. Money is not major issue(of course for the great value). I'm in Greater Washington DC area.


Thanks


Feb 7, 2007 10:55 pm

i've got the perfect (ex) client for you..

Feb 8, 2007 10:27 am

fptransitions.com has listings as does schwabtransition.com


Moss Adams specializes in facilitating transactions, but I'm not sure if they maintain a listing database.  A wealth of information on the subject is on their site (mossadams.com)


To the extent that I've explored it (briefly) these are great resources for what you're looking for.

Feb 8, 2007 12:29 pm

There are about 30 buyers for every seller right now. Since you are moving to LPL, why don't you see if they have a solo office affiliate that may be getting close to retirement. Maybe you can work on some low hanging fruit that is not (yet) out on the free market.


Or, take the independent broker dealer listing from this week's Investment News and find the local offices, do the same thing in a wider circle of solo offices.