Sometimes Scale Does Matter!
Within Wealth Holdings we have a number of team members that come from a practitioner background. We are proud to say that we have built good advisory businesses from the ground upwards. We also fully understand the benefits of working with a support services infrastructure partner or an umbrella group that will enable you to build your own practice and culture but be able to feed off the benefits of a group that can give you national buying power. The economies of scale you can achieve in compliance costs, technology development and business development are profound and will have a positive impact on your profitability.
Also as the last paragraph in this article says, when it comes to succession planning, if you are part of a like-minded group you can confidently know that you are selling your business at the right value to the right people. Your clients will be assured of a seamless transition where the acquiring firm is following the same financial planning approach, has a similar culture and using similar systems.
At Wealth Holdings we work very hard to match the right buyers with the right sellers. Having an umbrella group that understands the importance of succession planning and how to help both buyer and seller ( in what can be a 2 year earn-out period ) is critical and can maximise value for all parties.