Too often, advisors on the verge of retirement overvalue their business, making it unattractive to potential successors. What they need to do is find a strategic partner who can ensure the continuity of their firm.
Matthew Blocki tells Michael Kitces how he transitioned his practice from more than 100 transactional insurance clients a year to focusing now on his 15 affluent clients.
Anjali Jariwala, founder of FIT Advisors, tells Michael Kitces how she was able to grow her niche advisory firm to more than $250,000 a year of recurring financial planning fees in just her first 3 years.
Even venerable, well-known firms can enter a death spiral if they don’t change with the times.
Why is M&A so important? And how do you best position your firm for M&A success?
