Thinking about selling your financial planning practice?

As an owner, you invest a lot of blood, sweat and tears into growing your practice, and for all of us there comes a time to realise some of the fruits of that labour.

Selling your financial planning practice, or planning your succession is not something you do every day as an owner, and for first timers, the environment can be unforgiving. You only get one chance to make a first impression with each acquirer or equity partner, and how you go about it – how organised and informed you are – impacts greatly on your sale price, your risk, and how long it takes to get the deal done.

Watch our Managing Director, Chris Wrightson, as he explains in this 3 part video series:

  • How to avoid the most common mistakes that first time sellers make during the sale process, which costs them thousands of dollars
  • The #1 reason why owners end up selling for less than they could have (which has nothing to do with their business)
  • How practice owners have used our 6 step sale process to secure multiple attractive written offers within days of offering their practice for sale

In this video, Chris explains the 3 different types of buyers and what you need to prepare in order to attract a premium buyer.

After studying owner-led sales over a 3 year period, we found that most were negotiated with a single buyer; 6 months later 3 out of 4 discussions had ceased; and most still hadn't transacted after 12 months.

 

We can help you maximise your sale price.

Whether you’d like to do it yourself, or have an expert manage your sale process end to end, we have an option to help you get the best deal for your practice.

     

    Owner-led sale

    Prepare thoroughly to sell your own practice for the highest price and best terms. Our Sale Preparation Program gives you the tools, templates and upfront instruction you need to achieve a successful sale outcome on your own.


    > Sale Preparation Program

    If your practice turns over less than $1M a year and you’re confident of negotiating a good deal with a qualified buyer, this is a good option for you.


    Full service sale

    Have an objective, experienced third party lead your sale, introducing qualified, motivated buyers and achieving a 10-15% higher price, reduced risk, and a faster result than is achieved during most owner-led sales.


    > contact us

    If your practice turns over more than $1M a year and/or there is unique value in your practice, contact us for a confidential discussion.

       

      Don’t leave money on the table.

      You’ve spent years building your practice, and it’s now likely the most valuable asset you own. Unfortunately the majority of practice owners negotiate from a position of weakness when it comes time to sell their practice

      Most owners:

      • Don’t know the true value of their practice
      • Negotiate with the first buyer who approaches them
      • Let emotion get in the way of the best sale outcome because they’re too close to their business

      Get a professional in your corner.

      In a market place with far more buyers than sellers, this is a successful approach that reduces risk for the practice owner and minimises impact on stakeholders.

      For many practice owners, the Financial Planning business or shareholding is their largest financial asset, so the outcome of a sale is important to their financial future.

      Recognising this, we advise you through a business sales process that maximises sale value, negotiates with buyers and conducts the transaction to meet the diverse needs of shareholders, people in your practice, and importantly, your clients.

      We’re responsible for identifying and qualifying suitable prospective buyers to introduce to you. To do so, we draw on our relationships and our extensive database of qualified buyers. In a market place with far more buyers than sellers this is a successful approach that reduces risk for the practice owner and minimises impact on stakeholders.


      Confidentiality assured.

      In our experience, most owners prefer their transaction to remain confidential to the parties involved. For this reason we don’t advertise transactions or source buyers by listing them on our website.

       

      Gareth Hall, Partner Lifestyle Financial Services

      “Chris has provided us with succession planning, sale and acquisition services and has generated significant shareholder value that we might otherwise not have achieved. And he reduced risk in the process! As a larger business we knew we needed assistance. We knew we didn’t have all the knowledge required and there was too much at risk to get it wrong. We hired Chris; the work he has put in and results we have achieved have been exceptional.”

      Brett Stene, Partner & Senior Adviser, KnowledgebankIQ

      “Chris many thanks for your help, professionalism and dedication to the task. Your transaction and market place knowledge was invaluable to us when negotiating and we would happily recommend your services to anyone considering their succession planning and value realisation options.

      Your work with the four of us individually and collectively was invaluable in helping us to move forward and test thoughts and ideas as we went along. When we needed to identify suitable third parties to transact with, a choice of 20 groups and the receipt of 7 offer documents was not only confidence building, it provided us with choice and control over how we moved forward.”

      Keith and Jenny Powell, Powell Capel Securities

      “We hired Chris Wrightson to assist us with succession and sale of our practice and were very happy we did. Not only is Chris professional, diligent and a trusted adviser, we received 9 offers in writing and with Chris’ assistance achieved price and payment terms at the top of the market range. We would highly recommend Chris to anyone thinking about succession and sale of their business.”

      WHY YOU MIGHT CONSIDER WORKING WITH US

      Proven methodology and fast track templates

      Our 6-step sale methodology has been proven in over hundreds of transactions. It’s designed to create a multi-buyer situation that will drive on average a 10-15% higher sales prices and get the deal done in less than half the time most practice owners can achieve on their own – all with a lot less risk!

      Access to the best buyers

      Through relationships established over 25 years and multiple transactions with some of the largest players in the financial planning industry, we have the networks to source exactly the right buyer for your practice. On average, we will achieve between 3 and 9 high value written offers on a transaction.

      Genuine independent interest

      Selling your practice is like seeing the kids leave home. It’s something you anticipate for years, but when the time comes, it tugs at your heartstrings. We support you through the decision making and sale process, helping you make the right decisions before you start to pave the way for your new future.