Selling a business in the current climate, particularly in the uncertain world of financial planning, can be difficult. As such, practice owners need to be patient and offer a consistent and credible message to potential buyers.
Most financial planners perform very poorly when it comes to selling their business, but if you want to sell your business successfully, there are a number of important steps to follow.
Corporate lawyer, succession planning expert and author, Martin Checketts lists 10 things practice owners must NOT do when transitioning equity to senior staff. In this humorous blog post, Martin draws off his legal expertise to highlight the common mistakes made in equity transitions and suggests a number of ways that practice owners can ensure a successful approach to this process.
Corporate lawyer and author, Martin Checketts views succession planning as the next frontier for financial planners post-FoFA. In this blog post, Martin talks about how financial planners, lawyers, and other professionals can work effectively together to provide their clients with business succession planning advice.
The key asset and rightful focus in any financial services asset disposal are the clients. However, scant regard (if any) is given to the sale structure until a professional adviser – usually a lawyer or accountant – raises the issue with the parties.
If you are selling all or part of your business, have found a willing and able buyer and have struck a price that meets expectations, there are a number of questions you should ask yourself before proceeding to documentation and completion.
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