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Ask Yourself These 3 Questions When Evaluating Competing Offers to Buy Your Practice

Ask Yourself These 3 Questions When Evaluating Competing Offers to Buy Your Practice

You could go with your gut, but is that the kind of advice you’d give a client facing a major life decision?

 


 

By Patrick Farrell
Investacorp President & CEO

Choice can be a wonderful thing, but when a financial advisor is confronted with competing offers for his or her practice the decision is often fraught with complicated challenges. It can feel as though your professional legacy and financial well-being hangs in the balance.

On the surface, it seems like the choice should be simple: If all would-be purchasers are a good fit, go with the highest bid. Or if all the bids are similar, go with the best fit. And if the would-be purchasers all make similar bids and seem like a good fit, go with your gut. The reality, however, is that things rarely work out that way.

For example, even if the bids are similar, other aspects of the deal could be very different, including the amount of financing a buyer would need or their preferred terms and conditions that guide your exit. Also, going with your gut is not the kind of advice you would ever give a client facing a major life decision.

Although this is far from an exhaustive list, if you find yourself with the happy problem of evaluating competing offers, make sure to ask yourself the following three questions.

Continue reading the full editorial at WealthManagement.com.

 


 

For more information, please contact:

Leslie Vigil
Senior Vice President of Business Development
Investacorp, Inc.
O: 305-901-1825
LVigil@investacorp.com

 


 

For Financial Professional Use Only

2019-06-18T15:04:03+00:00June 18, 2019|