I am looking to expand my business by acquiring the practices of motivated sellers and merging them with my own. I am looking for practices on the smaller side in terms of the number of relationships and AUM. So fewer than 50/75 relationships and $10 million AUM. I have found those to be better acquisitions than any larger practices I have reviewed. It is easier to build strong relationships and maintain good relationships with right sized opportunities.
My practice is 20% corporate retirement, 40% fee based managed money, 20% mutual funds, 20% insurance and annuities. By the end of 2019 I will be adding a junior team member to work with a broader base of clients, and younger clients. Millennials require a different mindset, and will be acquiring substantial family assets over the next 15-20 years.
I do financial planning for all of my clients. My firm has robust tools available across the spectrum of clients, and advanced tools for business owners and high net worth clients. I am a firm believer in the value of holistic financial planning and it is central piece to helping individuals achieve their goals. It also shows our value to the client in ways just managing their money cannot.
If you are looking for a partner who takes a long term view of our relationships and this industry I would like to speak with you about your book and practice to see if they are a good fit.