For most successful advisors, leaving a legacy is the most important aspect when selling their practice. While price and terms are important, the fit between buyer and seller is the paramount consideration. Advisor Legacy, by Key Management Group, provides a comprehensive platform to find the best match between the buyers and sellers of financial advisory practices. We are experts at helping both buyers and sellers navigate the complexities of transitioning a practice. The process can be an emotional for both the buyer and seller and it involves a significant commitment of time and resources. Key Management Group facilitates the entire process from initial introduction, bidding, negotiating, and transitioning the practice.
We have partnered with some of the biggest and the best broker-dealers in the industry to facilitate successful sales between advisors within the same broker-dealer. For advisors who are not affiliated with our partner firms, our platform offers the best opportunity to sell to a highly qualified advisor in one of our partner firms; with the full support of our succession planning experts and the respective partner firm. Generally, the most successful transition occurs when a practice is bought and sold within the same broker-dealer. This arrangement is advantageous for everyone because:
The SELLER usually finds a better match and receives a premium for their practice because the buyer can more accurately value the practice and is more likely to retain the clients and assets.
The BUYER worries less about client attrition because there is no need to transfer the book of business to another firm.
The CLIENTS experience a smooth transition to the new advisor while remaining with a company that they already know and trust.
And finally, the BROKER-DEALER supports the process because the assets are maintained within the firm.