Cashing in on the seller's market for advisory firms

Summary: When Chicago-based broker Nick Brait, 62, wrote his five-year plan in 2012, he decided that by 2017, he wanted to spend almost half of every year traveling the world and sailing the U.S. Great Lakes. The best way to accomplish that, he figured, was to sell his financial practice, Lasting Legacy Ltd., and gradually move to a scaled-back schedule.