How to Value, Buy, or Sell a Financial Advisory Practice : A Manual on Mergers, Acquisitions, and Transition Planning

by Mark C. Tibergien; Owen Dahl

• ISBN13: 9780470884980
• ISBN10: 0470884983
• Format: eBook
• Copyright: 2010-05-01
• Publisher: Bloomberg Press

Summary

Financial planning is a young industry. The International Association of Financial Planning - one of the predecessors to the Financial Planning Association - was formed less than forty years ago. But as the profession's first tier of advisers reaches maturity, the decisions that may be part of transition planning for their firms loom large. A sale? A partner buyout? A merger? No matter what the choice, its viability hinges on one critical issue - the value of the firm. Unfortunately, many advisers - whether veteran or novice - simply don't know the worth of their practice or how to influence it. That's why "How to Value, Buy, or Sell a Financial- Advisory Practice" is such an important book.

Table of Contents

Acknowledgments

Introduction

Defining Value

Uncovering True Worth

Evaluating Fiscal Health

The Income Approach to Valuation

Other Approaches to Valuation

Assessing Value

Case Study: the Multiple-Partner Firm

Case Study: the Solo Practitioner

Coming to Terms

The Art of Negotiation

The Seller's Perspective

The Buyer's Perspective

Getting All the Way to Yes

Ounces of Prevention

Essentials of Due Diligence

Antidote to the Postmerger Meltdown

Making It Legal: A Sequence of Steps

Inside Stories

Partnering: A Complex Choreography

Buy-Sell Agreements: The Path to Happier Endings

The Marketplace

Intermediaries: Making the Match

Finding the Ideal Buyer

Building Value: The Firm That Sells Itself

Appendix of Sample Documents

Index

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