As the average age of independent financial advisors continues to climb, experts expect more and more advisory firms to hit the market in coming years. Many independent advisors are now reaching their retirement years and using their knowledge and investment acumen to secure their futures.
As those financial advisors look forward to retirement, they will be looking for experienced and competent professionals to serve the needs of their clients and take over operation of the businesses they have so carefully built and nurtured. If you are coming into the market in search of opportunity, you should have no trouble finding existing financial advisory firms for sale.
What will be difficult is determining how much those financial advisory firms are worth. Valuing a business is always a tricky proposition, but it can be even more difficult with a customer-service and people-oriented business like this.
No matter where you are in the process, it is important to utilize online platforms like Truelytics when valuing an existing financial advisory business. You may be an expert at investing and client service, but you are probably not an expert at valuing businesses. With Truelytics, you can make sure the price you pay is a fair one, and that your new firm will get off to the best possible start.
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