The Independent Advisor’s Legacy: Planning for the End Game

Every independent business owner will reach a point where gaining scale and solving for continuity and succession become paramount. It’s then that they begin to wonder: What does my firm’s end game look like?

Perspective breakaways and independent business owners alike often ask us about the long-term, bigger picture potential for their firm. How do I solve for succession and continuity? Why would someone sell? Who are the buyers? And is there a market for an RIA like I’m considering launching?

In this episode, Mindy speaks with Nathan Bachrach of Cincinnati-based Simply Money Advisors. Last year, Nathan’s $700mm firm merged with Hanson McClain, a California RIA, to form a $3.3B enterprise. So Nathan is well-positioned to discuss the answers so many independent business owners ponder:

What could a merger solve for?
What is the introduction and courting process like?
Why use a private equity firm?
How do clients react to the news?
Does the client experience change after a merger?

For advisors looking for their next step, Nathan says it best: “Run your business every day as if you’re selling it tomorrow.” By being laser-focused on his firm’s profitability and economics, he built a legacy for himself, his family, his clients and his staff—one that will continue to provide for years to come.

Podcast: Play in new window | Download (Duration: 32:33 — 29.8MB)

Related Resources

Strategically Exploring M&A in the Independent Landscape
Even though most firms in the market consider themselves “acquirers”, not all connections are poised to create a perfect marriage. Read->

Why Merge?
The 5 real benefits of a merger. Read->

Want Your Sale, Acquisition or Merger to Close? Reasonableness is the Key
The key to any transaction occurring is the motivation and reasonableness of all parties. Read->

How to Turn Your Practice into a Business
Three options for principals who want to create enterprise value. Read->

About Nathan Bachrach:

Through his leadership of Simply Money Advisors and its over 20-year history, Nathan believes in “paying it forward” as a financial educator and advocate. He started his financial services career believing that getting involved will help improve the quality of the community. He continues to hold those same beliefs continue today.

Nathan holds a bachelor’s degree from Hofstra University on Long Island, NY and earned his master’s degree from the University of Cincinnati.

In 2012, Nathan was named Volunteer Team Finalist for the Invest in Others Community Leadership Awards and was honored as a Cincinnati Gentleman of Style and Substance in 2010. He has served as keynote speaker and presenter at numerous financial industry and community events throughout the country, including Barron’s Top Independent Advisors Summits and local TEDx events. He’s appeared as a financial analyst on various radio and television shows including on CNBC, the Fox Business Network and Fox News. Nathan is co-host of the daily Simply Money radio show.