Added on June 2014 in M&A Issues
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Summary: The financial advisory business, squeezed by rising costs and a shortage of young talent, may be on the verge of a merger and acquisition boom, according to one of the industry’s practice management gurus.
Added on June 2014 in M&A Issues
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Summary: When a good friend recently purchased a house in an exclusive local neighborhood notorious for low turnover and minuscule inventory, we all congratulated her on an amazing find. When asked how she was able to discover such a rarely available home, she gave an interesting answer: “Sometimes the appearance of scarcity outpaces actual scarcity and that's when the determined buyer has more opportunities than you'd think.”
Added on June 2014 in M&A Issues
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Summary: At first blush, accountants and financial advisors appear to make strange bedfellows. The former are often perceived to be more analytical and the latter, more entrepreneurial. These perceptions aside, many medium to large accounting firms have taken steps to establish or greatly expand their financial services practices.
Added on June 2014 in M&A Issues
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Summary: Greg Friedman had heard about the benefits a merger would bring to his small practice, things like expanded client services and more revenue.But after his Friedman & Associates joined forces in 2009 with Salient Wealth Management LLC, he was caught off-guard by the dissatisfaction among some of his staffers and clients.
Added on June 2014 in M&A Issues
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Summary: One recent merger of a financial firm from Connecticut with another from New Jersey, a deal that created a regional presence for both companies, offers a lesson to any smaller advisories looking to expand.
