SAN DIEGO, July 10, 2013 /PRNewswire/ -- Succession Link, a company that provides business consulting and an online marketplace for buying or selling advisory practices, recently announced the formation of a strategic alliance with PPCLOAN™, a leading provider of business financing for investment professionals.
Since its formation in 1998, PPCLOAN has lent $1.1 billion to service sector cash flow based businesses, with a large portion of that committed to mergers and acquisitions. In 2012, they identified a need for similar services in the RIA Marketplace, and have since expanded their services to fill this niche.
According to Co-founder and manager of Succession Link, Phillip Flakes, selling advisors are inundated with buying advisors that are not qualified or lack the financing necessary to purchase a practice. "We believe this new alliance will give our selling advisors and RIA's more viable, qualified, 'buying' candidates, enabling them to sell their practices more efficiently. It will ultimately bring more autonomy and flexibility, allowing them to focus more on the 'who' and less on the 'how,'" he says.