It’s one of the biggest decisions you’ll ever make, so it should never be undertaken lightly. That’s why we came up with 8 things to consider when deciding whether it’s time to sell your financial services firm.
But making that decision is just the first step. Once you’ve made the decision to sell (or become an affiliate of a larger financial services firm,) it’s time to create a plan for selling your firm.
Here are the first 3 steps you should take:
1) Plan
What do you want selling your business to look like? How can you make that plan into a reality? If your business is not currently in a strong position to sell, what can you do to make it a more attractive investment for potential buyers?
Just like you fix up your house before putting it on the market, even if it’s just slapping on a new coat of paint, you might want to make certain changes to your business to make it more attractive to potential buyers before you put it on the market. No one wants to buy a fixer upper.
2) Determine
Determine the value of your business so you know what it’s worth before you start looking for potential buyers. No one wants to leave money on the table, but you also don’t want to ask for a price so high no one will buy.
3) Consult
Don’t try to do this all on your own. Consult with bankers, CPAs, M&A attorneys, business brokers, business coaches, etc. about your exit strategy for your business. Ask them if your plan makes sense and if there’s anything else they would recommend.
Ask About Becoming an Affiliate with Vertex
If you’ve been thinking about selling your financial services firm, but you’re not yet ready to retire, it might be worth considering the affiliate model.
When you become one of our affiliates, you get the best parts of big-to-large financial services firms without sacrificing the things you love most about being independent. To discuss how our Affiliation Model might be right for you and your business, reach out to us at: in**@ve********************.com
