Added on April 2015 in M&A Issues
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Summary: As the leading independent lender to financial advisors, we have seen our fair share of deals. Some go right—and others go very, very wrong. From surprise last-minute changes to bumps within the seller transition, there really is no guarantee when it comes to selling or buying a book of business.
Added on April 2015 in M&A Issues
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Summary: After essentially sitting on the sidelines during 2014, private equity firms and banks were again buying up RIA firms in the first quarter of 2015, executing 19 percent of the record-breaking 34 transactions recorded by DeVoe & Company. Private equity firms alone accounted for 13 percent of first quarter deals.
Added on April 2015 in M&A Issues
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Summary: Conventional wisdom is that startups are bought, not sold. The logic follows that no matter how much an entrepreneur wants to sell a company, there needs to be an eager buyer and no amount of seller desire can manufacture one. Some people interpret this wisdom to mean that they should spend no time getting to know buyers and when a large company is ready to buy their startup, they’ll come knocking.
Added on April 2015 in M&A Issues
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Summary: The acquisition of the Sterne Agee Group by Stifel Financial Corp. was classic Ron Kruszewski: find a company in turmoil and buy it on the cheap. It is a strategy that has served the Stifel chief executive well over the past 18 years.
Added on April 2015 in M&A Issues
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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.
