succession

The biggest succession mistakes
In our work with acquisitions over the years we have identified a few consistent reasons why purchases or mergers fail: Incompatible client base Frequently, buyers and sellers talk conceptually about synergy, but do not adequately contemplate what makes them stronger as a combined entity. For example, if one practice…
Planning the transition
Whether you’re considering selling or acquiring, it’s important that you plan carefully – consider your options, determine the challenges, obstacles and potential roadblocks and build your strategy. All of this should all come together in your transition plan. From the buyer’s perspective, the impact of a new…
Planning the transition
Whether you’re considering selling or acquiring, it’s important that you plan carefully – consider your options, determine the challenges, obstacles and potential roadblocks and build your strategy. All of this should all come together in your transition plan. From the buyer’s perspective, the impact of a new…
The motivation to sell
If you’re considering buying an advisory practice, it’s important to gain an insight into why the seller is interested in selling. To gain any such understanding, we will provide the buyer with useful pointers as to how they should proceed and how any potential transaction could be structured. A mutually beneficial, “fair…
The time to repair your roof is when the sun is shining
The general interest in M&A, buying, selling and succession planning shows no signs of abating. Transitioning, in whichever form it takes, seems set to be with us for some time! And while there remains a dogged belief amongst business owners that there will always be someone looking to purchase their business – this may…
The time to repair your roof is when the sun is shining
The general interest in M&A, buying, selling and succession planning shows no signs of abating. Transitioning, in whichever form it takes, seems set to be with us for some time! And while there remains a dogged belief amongst business owners that there will always be someone looking to purchase their business – this may…
How do you nurture a PY adviser's growth?
I recently shared in a blog here the importance of developing a strong Professional Year (PY) adviser program—from setting clear expectations to encouraging a true sense of ownership over their work. I’d love to hear how everyone is putting these ideas into practice. * What’s been your biggest success in mentoring a PY…
Falling into Advice
Question: Who has had a great experience in the last couple of years, that they would like to shar, bringing on a new adviser from another career, location, education back ground? Why? We are now talking to a diverse range of ‘future advisers’ from all types of backgrounds including the undergraduates university cohort…
What makes a successful business transition?
Advisely board member Darren Smith recently jumped onto Advisely to answer all your burning questions on transitioning your business. Having recently sold his award-winning financial planning practice last year and now working as a business coach at Slipstream Group, Darren tackled everything from preparing a business for…
Succession: handle with care
Our industry is a vibrant community of passionate and professional individuals with a common purpose: helping clients achieve what's important to them in life and/or getting them from point A to point B. Collectively, we are helping build better futures. This community is very diverse in terms of composition, location,…
Six secrets to succession
This guide, free to all Advisely members, gives you an in-depth strategy for transitioning your business – and avoiding the pitfalls you might find along the way. Click below to download the report now.
Six secrets to succession
This guide, free to all Advisely members, gives you an in-depth strategy for transitioning your business – and avoiding the pitfalls you might find along the way. Click below to download the report now.
Hearing what's unsaid: principal dependency
Through our latest Future Ready IX analysis, we know that 70% of advice practices are run by a single owner and, in the majority of these cases, risk management is poor. Think key person and succession planning, for example. The CATScan dataset now contains feedback from over 45,000 Australian clients, all of whom are…
Hearing what's unsaid: principal dependency
Through our latest Future Ready IX analysis, we know that 70% of advice practices are run by a single owner and, in the majority of these cases, risk management is poor. Think key person and succession planning, for example. The CATScan dataset now contains feedback from over 45,000 Australian clients, all of whom are…
Ensuring your business thrives beyond you
Life is unpredictable, and sometimes things happen that we never saw coming. Whether it's a sudden health issue, a family emergency, or just the need for a well-deserved break, there may come a time when you're unable to run your advice business. The question is: do you have the systems, processes, and people in place to…
The money is in the planning
You don’t need us to tell you that the last few years have presented financial advisers with a mountain of change, challenges and competition. It’s been consistent and persistent. And it’s not likely to slow down in any meaningful way over the next few years. So much for the owner to consider as they strive to run their…
Overcoming industry challenges and the barriers to new entrants
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POLL: What will impact advice accessibility the most in the next decade? ?
It is commonly agreed that accessibility of advice is currently a problem and is only set to compound over the next decade. In your opinion which of the following will have the most profound impact on advice accessibility over that period? * Data - efficiently in who needs advice and when People - professionals and support…
Succession Plan - Be honest ! How prepared are you?
This is something that is so close to my heart at the moment as I am in the home stretch of realising the dream that I mapped out 8 years ago! A real mixture of emotions and this has been 8 years in the making to get to that realisation. With a number of advisers still looking to transition out of the industry over the…
How to maximise the value of your Financial Planning business to prepare it for sale
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PY – How do we build and where do we find?
I’m proud to say we started the professional year journey about 6 months ago and feel we’re on the right path and happy we took the leap! However, I feel I got lucky finding the right person for our business and with a relatively limited pool of people going through this process (albeit growing slowly), how do we promote…
I'm Alisdair Barr, Advisely recruitment and business strategy expert
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How much does your advice book need to be worth before you sell?
To fetch top dollar when selling your advisory business, how much should your financial planning book be worth? It’s a question that Connect Financial Service Brokers CEO Paul Tynan, an expert in financial planning succession and valuation, fields on a weekly basis. “Whether you own a flower shop, a vineyard or a financial…
Your 10-year exit: Year-by-year guide to building a "sellable" advice business
Preparing to move on from your financial planning business starts the day you open your doors, according to one expert. He has some advice to help you plan your transition to retirement. Earlier this year, a Melbourne-based principal of a financial planning firm exited his business after years of searching for the right…
The one advice sector that’s bucking the downward trend
This article has been taken from the NMP education library which has now moved to Advisely At the time of writing, adviser movements shows many advisers have left the industry. There was, however, one area of growth: small self-licensed advice businesses providing financial planning and/or investment advice services. At a…

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