Navigating The Shoals Of The Exit Strategy
After exclusing the possibility of an MBO, Lynn Ballou decide to hire a business broker to sell her advisory firm. She shares her story:
“So we had to find a solution that involved everybody having a good result,” she pointed out.
They quickly discovered that larger broker-dealers’ plans usually involved taking over the clients but closing down most of the business and laying off existing staff. And this was not what they wanted.
So they hired a business broker. David Selig, CEO and founder of Advice Dynamics Partners, a boutique strategic advisor with a focus on mergers, acquisitions and transitions in the financial advisory industry, recommended that they look at fee-based registered advisor firms instead.
“That was an intriguing idea for us,” she said. With her partner, Ballou learned that the larger Registered Investment Advisor firms were “interested in buying smaller successful offices and creating firms of depth and value, and to provide multiple services to clients and all the things you’re looking for when you’re doing that type of a deal.” …. Navigating The Shoals Of The Exit Strategy – Investor’s Business Daily