Five years ago, it took over seven months to complete the sale of a financial services practice, from listing to closing. Now, data gathered for the 2005 RIA Transitions Report reveals that the time to complete a sale has dropped precipitously to only 3.7 months. The time is shortening, we believe, because buyers, and even sellers, are better informed and gaining experience in the process. It is like progressing from buying a house for the first time to the third house you’ve purchased.
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