The average age of financial advisors has created a lot of succession opportunities. So, why is matching retiring advisors with successor advisors such a challenge?
First, there is the issue of identifying one another. Advisors who plan to retire may not want that advertised.
Second, there is the question of fit in personality, business model, and investment style.
Third, there is a due diligence challenge.
Finally, deal structure and pricing are difficult.
One solution is to find a firm that is actively seeking both retiring advisors and successor advisors. Let them do the matchmaking and structure the deal for you.
– Kip Caffey, Chief Executive Officer, Resurgent Financial Advisors