Financial Planning Space

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January 28, 2025

by a searcher from Utah Valley University - Woodbury School of Business in Orlando, FL, USA

Does anyone have any experience searching for, or acquiring a financial planning firm?

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Reply by a searcher
from Tulane University in Charlotte, NC, USA
I’d defer to those who have firsthand experience acquiring a financial planning firm, but I do have some insights to share. Last year, we acquired an accounting firm to expand our CFO, accounting, and tax services. The integration was challenging - many clients were older, resistant to technology, and unwilling to transition to cloud-based tools. Additionally, the trusted advisor relationship didn’t transfer as smoothly as expected, leading to retention issues. Acquiring a financial planning firm is certainly feasible, but finding the right one is critical. I’d strongly recommend structuring the deal so the owner stays on for an extended period to maintain client trust and ensure a smoother transition. I’d also structure the deal with seller financing that is contingent on revenue retention targets - if those targets aren’t met, a portion of the seller note should be forgiven to offset client attrition.
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Reply by a searcher
from Brigham Young University in Dallas, TX, USA
Bought a few RIAs, Broker Dealers and retirement plan admin businesses. DM me if I can be helpful.
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