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Podcast

Independence for Financial Advisors

Industry Update: Understanding the Real Value of a Financial Advisor’s Business

Posted by Mindy Diamond

A conversation on valuation with special guest Louis Diamond

Advisors who are employees of brokerage firms, particularly the wirehouses, face some tough questions as they think about how they want to retire from the businesses they’ve built.

Is their current firm the right place at which to leave their legacy?

Is it right for their clients, their team and their next gen inheritors? 

Is it possible that there’s a better opportunity for all stakeholders?

And is making a move relatively late in the game worth the hassle? 

Louis DiamondDiamond Consultants’ resident expert on M&A, Louis Diamond, joins the show to take a deeper dive into a topic that Mindy Diamond covered in a recent article for Forbes, “What’s the Real Value of a Financial Advisor’s Business.”

Together they discuss:

  • The value of sunset or retire-in-place programs—and whether it’s the right path for both the senior advisor and his successor.
  • What senior advisors and next gen inheritors need to consider when presented with their firm’s retirement package—and how successors will be agreeing to “buy” a business they may never own.
  • Whether an advisor’s business value can be maximized under a brokerage umbrella—and what 2 key factors they need to consider.
  • And, ultimately, why so many wirehouse advisors choose to go independent—especially when they are on the back 9 of their careers.

Louis shares 3 valuation scenarios that serve as the basis for these questions that advisors are asking:

  • How can it make sense to go independent where there’s no upfront money, when I can get a 300%+ deal from another major firm or opt-in to my firm’s retiring advisor program?
  • How do I rationalize giving up the bird-in-the-hand – that is, a retire-in-place program – with a preset multiple and without the hassles of going through a transition?
  • How do I build a business for maximum enterprise value?
  • How do you arrive at the valuation of an independent firm?

It’s a fact-filled episode which shares actionable data and advice for those at traditional brokerage firms—whether they are seasoned advisors considering their next chapter, or the next gen who is exploring how to build a business poised for maximum value.

Podcast: Play in new window | Download (39.3MB) | Embed

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Related Resources

What’s the ‘Real’ Value of a Financial Advisor’s Business?
Headline-making M&A deals in the independent space have many employee advisors wondering what their business could be worth on the open market. Here are 3 valuation scenarios to address that curiosity. Read->

Multi-Generational Teams at a Crossroads: Wirehouse Sunset Program or Independence?
An in-depth look at the opportunities and options for retiring advisors and the next gen from an expert on the topic, Justin Weinkle, Director of Strategic Analysis at Dynasty Financial Partners. Read->

Determining Enterprise Value
7 Key Qualitative Drivers for Sellers. Read->

The Math Behind the Move to Independence
Why so many advisors are going indy, even with stiff competition from hefty brokerage firm transition deals. Read->


This podcast is also available on…

Mindy Diamond on iTunes           Listen on Google Play Music           Diamond Consultants Podcast on YoutUbe

 

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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    WHAT OUR LISTENERS ARE SAYING…

    • I listened to every episode before making my transition. Hearing the mindset and tactics of the industry’s best advisors was amazing. Perspective is so important and that is what you consistently bring to your audience.

      Matt Blocki
      CEO, Equilibrium Wealth Advisors
    • Your podcast helped me a ton during my due diligence. There is no replacement for hearing from others who were successful leaving the wires. You are doing great things for the industry.

      Rory O’Hara
      Founder, Senior Managing Partner – Ausperity Private Wealth
    • A fantastic bundle of wisdom from one of the very best Curators of all things Wealth Management.

      Jim Dickson
      Founder - Sanctuary Wealth
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      Brock Moseley
      Founder, Miracle Mile Advisors
    • I didn’t realize what I could do until I heard what other advisors were doing. Then week after week, it was like the gaps were filled in. Without it, I wouldn’t have had the confidence to go independent. Even after transitioning, I still can’t wait for Thursday mornings to hear the latest interview.

      Jerry Davidse
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      Michael Henley
      Founder & CEO, Brandywine Oak Private Wealth
    • This is outstanding. Every team considering independence should listen.

      Chris Cooke
      Managing Partner, Cooke Financial Group
    • Every advisor at a brokerage firm should listen to this podcast. I’m convinced that most advisors don’t realize their real value. Do your research. You deserve your true value and going out on your terms. It’s your life’s work. Even if you don’t transition to independence, know your value and options in order to make an educated decision.

      Robert Harris
      Senior Wealth Advisor, Avidian Wealth Solutions

     

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