A practical note on structural refinement and clarity Most advice businesses we meet are already performing at a high level. Clients are well cared for, revenue is stable, compliance standards are met and the team operates with professionalism. From both the outside and inside, the business feels solid. There is no crisis…
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…
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 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…
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…
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…
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…
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.
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…
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