Cetera has entered an agreement with Cornerstone Business Services to help financial advisors coach clients through complex business ownership transitions, including through the provision of investment banking services for clients who want to sell their business or begin the planning process.
Through the partnership, according to Cetera's announcement, advisors will be able to build deeper relationships with their business-owner clients and engage in discussions with them well before any sale would occur.
“Our goal is to support financial advisors with the broadest and most robust solutions possible for their clients before, during and after a business sale,” Scott Baker, Cetera’s head of high-net-worth solutions, said in a statement. “A professional sales process, and carefully crafted tax and estate plans can result in higher sales prices, and importantly, higher after-tax proceeds.”
Cetera believes that Cornerstone’s solutions will provide benefits to clients and advisors, Baker said, with the service being made available to all Cetera advisors across all communities and channels.
Clients looking to sell their business in the near term can partner with Cetera’s advanced planning team, their Cetera advisor and Cornerstone to create an exit plan that makes sense for them. Alternatively, Baker said, clients with a longer time horizon can work with their Cetera team to outline a plan to achieve their long-term business valuation objectives.
“Our most value-added service is to do meaningful tax and estate planning before a sale takes place,” Baker said. “It’s our proactive, comprehensive approach to these business sales that really sets us apart from those simply looking to execute a sale.”
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