 The majority of advisory firms are still being operated as practices, rather than being managed as actual businesses.”Kelli Cruz, director of research and consulting for IN Adviser Solutions |
Don't ask advisers what their firms are worth, they don't know
Mark Bruno | Investment News, February 2012
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Summary: Three-quarters of advisors have never conducted a formal evaluation to nail down the value of their firm according to a preliminary finding from IN Adviser Solutions' first-ever study of Succession Planning in the financial advisory business.
Knowing the actual value of a firm is a critical element of a succession plan. And incidentally, just one-in-three advisory firms actually have a succession plan in place, according to the IN Adviser Solutions group's 2010 Financial Performance of Advisor Firms Study.
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