As you hopefully know by now, I’m not afraid to experiment. And, last year, I experimented with my first acquisition by purchasing a practice from a retiring advisor.
I wanted to go through the process for a few reasons:
- To help another advisor – who I have a lot of respect for – ensure that his clients were going to be well taken care of for the rest of their lives
- To learn and try something new
- To experience the process of an acquisition from start to finish and determine if it’s something I want to build into the future of my firm
In today’s episode, I share my experience as well as three really important things I learned through this process that I wanted to personally take note of in case I ever pursue this again.
How to Listen & Subscribe
- Organic vs Inorganic Growth by Douglas Boneparth
- Kitces Office Hours: Why Growth Doesn’t Solve Profitability Problems
- Sample Onboarding Template
- We Buy AUM
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