Overview

I started in this business with Wells Fargo Advisors in 2009, after having my management career in banking and mortgage lending end prematurely, due to the financial crisis. Have built a 90% advisory business with about $31 million in AUM and trailing-12 GDC of $315,000 and only 50 households. I emphasize planning in my practice and have developed a high level of expertise with my firm's planning software. I've also been certified recently as a Portfolio Manager, under our discretionary Fundamental Choice advisory program, and have built my own investment models for a variety of client objectives.
I want to build my practice to $40-50 million AUM before looking for my own successor, perhaps within five years, and acquisition seems the most realistic way to achieve that.
At Wells Fargo Advisors, I can't literally buy another practice. However, we can get close to that. The Seller would have to join WFA for two years before officially retiring. However, good transitions take a year anyway, and I envision the Seller being able to take the second year as unofficial vacation. All I would expect of the Seller in the second year is to be available for occasional questions or meetings, but not to have any day-to-day responsibilities or a need to come into the branch office.
If you think this compromise might be acceptable, I'd be very interested in discussing the the acquisition of $10-30 million of AUM in the Dallas-Fort Worth area.
FYI, while I work in the Southlake, TX, office, I live in the Carrollton/Addison area, which is essentially north Dallas. Accordingly, I might transfer to the firm's west Plano office within the next year.
Lastly, if I'm not able to "acquire" a practice this year, I would consider joining another firm or RIA team in the Dallas area, then pursue a larger acquisition to be shared with my new colleagues. I've already had extensive discussions with Ameriprise, Raymond James (RIA channel), and LPL (local RIA/OSJ), but have not yet decided to change firms.
I look forward to hearing from potential Sellers or partners!
Greg Bullen

Last Activity
within 6 months

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