A critical component of the journey to independence is the creation of a new firm with the infrastructure and capabilities envisioned by its entrepreneurial founders. To accomplish this, the Hamburger Law Firm acts as agent to facilitate the execution and financing of certain contracts with vendors on behalf of the new entity. In the past year, this program has been enhanced to offer negotiation of a broader array of vendor agreements and direct integration with commonly-used technology vendors from whom we’ve secured favorable financial and implementation terms for our clients.
As part of its Reg BI framework, the SEC considers its creation of Form CRS (Client Relationship Summary) to be a watershed development in encouraging greater transparency in the advisor-client relationship. Yet this change may seem to generate more questions than it answers. But not for MarketCounsel Consulting clients, who’ve been educated by the firm and are being guided through the development of their version of this critical new public disclosure. For example, though much of the information required by Form CRS is already included in advisers’ ADV disclosure brochure, MarketCounsel Consulting is helping clients to integrate this requirement fully into their firm’s policies and procedures to ensure their successful compliance while also understanding how to use this new tool to strengthen client relationships.
In response to widespread industry demand, MarketCounsel has developed a holistic educational series to introduce advisors to the M&A opportunity in our sector and help them assess if this strategy is aligned with their firm’s future growth plans. In this two-part program, advisors survey recent developments in the M&A marketplace and are equipped with the tools to evaluate their firm and its potential to leverage this opportunity successfully, either as an inorganic growth strategy or succession solution. Through a process of guided reflection and critical self-assessment, the hundreds of advisors to whom it’s been offered by invitation have been able to gain a better understanding of their firm’s M&A prospects as well as the ability to develop a comprehensive plan to pursue this strategy successfully.