If you are a financial advisor and are considering selling your practice, or, maybe, you’re looking for an opportunity to list your practice anonymously to a qualified group of buyers, Succession Link is an invaluable resource for you. At Succession Link, we help in both the sale and acquisition of various firms, agencies, and companies in the legal, insurance, accounting, and financial advisory industries.

This case study takes a closer look at Jason, an anonymous seller in 2016, and his experience as a Succession Link customer.

Once Jason, started thinking seriously about selling his practice, he took to the internet and quickly found Succession Link. Jason’s personal brokerage dealer then also recommended Succession Link to help make the selling process as easy as possible.

Jason signed up for a free membership so he could get a feel for the website and the larger Succession Link community. Succession Link posted a special promotion for discounted annual membership that many new users take advantage of to get the full benefit of the services offered. Once he became an annual member, Jason posted an anonymous ad indicating that he was interested in selling his practice. Almost immediately, he received contact information and interest from several people in the Succession Link community.

Jason owned his business and managed the investment side of the practice, while his partner handled the life insurance side. Jason’s partner had already begun the process of leaving the firm, and it was clear, based on the recent Department of Labor Rulings, that the next years’ profits would not be reasonably valuable or lucrative.

At the time that Jason started to consider a sale, his company had nearly 135 clients and close to $25 million in annual revenue. About 20% of that revenue was already in managed accounts, and another 45% was held in different variable annuities, or versions of annuities (some life insurance, mutual funds, and non-traded alternatives.)

Once Jason posted the ‘for sale’ ad on Succession Link, he was contacted by about 40 individuals who were all interested in buying. It was also clear to Jason that most those individuals who reached out had done their homework on his practice. Having buyers who had already done their research and who know more clearly what they’re looking for saves everybody a lot of time and frustration. There is a peace of mind that comes with knowing you are operating in a community of people who not only have similar interests but also have similarly leveled understandings of your field and industry.

One of the amazing things about Succession Link is how data is organized and presented across the website. As you peruse the online portfolios of buyers and sellers, like Jason, you will have access to a host of vital financial information that will help you make an informed decision about the future of your firm.

Succession Link made it easy for Jason to remain anonymous throughout the sale process, so he wasn’t at risk of losing any clients while he was pursuing the sale. Jason was also interested in finding a local buyer, and, ultimately, Succession Link helped Jason find the right match for selling his business.

Succession Link also makes it easy for buyers and sellers to determine the value of any particular firm of interest. Having these tools built into the website allows for increased transparency and a leveling of the buying-selling playing field.

It is clear from Jason’s experience that Succession Link is an essential tool for anybody considering buying or selling a business. With the help of Succession Link, Jason was able to successfully sell his business and connect with an incredible community of like-minded, finance-oriented individuals. For more on Succession Link and how to get started, visit our website today.

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