It is crucial when considering the long-term value of a buy-in to a practice, to understand the long-term "bump" in cash flow and not fixate on the short-term (potentially negative) cash flow obligations!"
Michael Kitces, Nerd's Eye View |
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Summary: For the past decade, the growth of advisory firms has led to a wave of hiring new planners, many of whom are ultimately anticipated to be the successor to the founding owner. And as time has passed, more and more are reaching the moment of transition when the successor actually does begin to buy into the practice; in fact, even in firms where the owners aren’t looking to exit anytime soon, it is increasingly common to add “junior partners” who will help to grow the firm going forward.
It is crucial when considering the long-term value of a buy-in to a practice, to understand the long-term "bump" in cash flow and not fixate on the short-term (potentially negative) cash flow obligations!"
Michael Kitces, Nerd's Eye View |
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