Overview

I would like to introduce myself and Stratos Wealth Partners.

My name is Rob Patti and I have been an advisor for 23 years and independent since 2002 and I am looking for additional potential succession opportunities in GA. Since joining LPL and Stratos Wealth Partners in 2012, I have completed 2 very successful acquisitions.

As a Forbes Best In State Wealth Advisor 2021 and 2021 Chairman’s Club Member, I have been able to maintain a retention rate of 99% while increasing assets, revenues, and referrals and maintaining all staff.

Stratos Wealth Partners is one of the largest OSJ’s with the LPL Financial network, while being able to hold assets at Fidelity, TD Ameritrade, and Schwab. Stratos is a Barron’s top 50 RIA, while holding the #2 spot for total advisors, total states, and #7 in total clients with assets approaching $20 Billion with a home office support staff of 70.

With extensive knowledge of succession planning and acquisitions in the financial services sector, Stratos has been able to completed dozens of acquisitions over the last few years ranging from $10m in assets to over $2B in assets.

Picking A Successor
This may well be the hardest part of succession planning. While financial gain is important, it’s not the only factor. You’ll also want to ensure that any potential successor will be a good fit with your clients. Will the successor treat clients the way they are accustomed to being treated? Smooth transitions are generally dependent on finding someone with similar philosophies, values and approaches to service. For advisors who are looking to sell, consider other advisors in your professional networks or even a nearby competitor. The more a seller and buyer know one another, the more successful the transition can be. Things to consider:
• Does the potential buyer’s business model align with your business model? Do they have similar planning services and offerings, do they use the same custodian/clearing platforms, and do they have a similar investment/planning philosophy?
• Does the potential buyer have the capacity to take on your existing business?
• Does the potential buyer’s expertise align with yours and your clients’ needs?
• Does the potential buyer have a similar geographic footprint and the appropriate licenses?

I look forward to speaking with you.

Rob Patti
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Market
Advisor/RIA
Member Level
Basic
Last Activity
this week

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