What You Need to Know
- The cloud-based offering is intended to serve as a one-stop shop for M&A tools.
Raymond James says it has rolled out a succession planning platform for its roughly 8,400 financial advisors.
Practice Exchange, a cloud-based platform, aims to serve as a “one-stop location for M&A tools, prospective buyer/seller matching and succession planning education,” according to the firm. Some of its features focus on valuation and financing, consulting, catastrophic succession planning (which includes the identification of potential successors), and secure information sharing.
“We’re committed to developing the support resources financial advisors need to plan for their clients’ financial futures, and for the future of their own practices,” said Scott Curtis, Private Client Group president, in a statement. “Building on our long-established succession and acquisition consulting support, we’re introducing this application to streamline and facilitate the succession planning process for advisors.”