In an era when most advisory firms are suffering revenue drops of 20% or more over the prior year, you might think this would be a bad time to try and sell your firm on valuation grounds alone, but Tim Welsh begs to differ. Welsh, the former Merrill Lynch and Schwab Institutional executive who now runs the consulting firm Nexus Strategy, says this is an excellent time to sell your practice, though he quickly adds that coming up with a sound succession strategy can take many years. “It’s still a sellers market,” Welsh told attendees February 11 at the second of the six-city Future of Retirement Planning conference in Hollywood, Florida, and the “value of independent advice” has never been clearer than it is now in the wake of the demise of the wirehouse firms and the Bernie Madoff scandal.

Dig Deeper

 

Sign Up for the Retirement Report Newsletter

Get the latest updates on portfolio protection and retirement-income strategies - quickly and easily.

Sign Up for the Daily Wire Newsletter

Get the latest best practices, relevant stats and industry trends - quickly and easily.

ThinkAdvisor

Join ThinkAdvisor

Don’t miss crucial news and insights you need to make informed investment advisory decisions. Join ThinkAdvisor.com now!

  • Free unlimited access to ThinkAdvisor.com which provides advisors, like you, with comprehensive coverage of the products, services and trends necessary to guide your clients in making critical wealth, health and life decisions.
  • Exclusive discounts on ALM and ThinkAdvisor events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join ThinkAdvisor

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.