After years of strong growth, many successful independent businesses find themselves at a plateau. Inorganic growth—via mergers and acquisitions (M&A) or recruiting—offers these firms a way to expand into new markets, improve buying power, gain scale and capture operating leverage. M&A can also increase the metrics on which the valuation of the business is based, and help solve for succession.
Although every wealth management firm fancies themselves a buyer, most fail in their efforts to recruit or acquire. In this episode, Mindy explains what prospective buyers must identify and solve for to successfully attract potential sellers, including:
- What is your firm’s value proposition?
- Is your infrastructure robust enough to support added growth?
- Have you identified your next generation?
- How will you access the capital for the deal?
- And, most importantly, what are you looking to solve for?
By being able to demonstrate why a prospective seller would grow faster with you than without you, your firm will be better positioned for M&A success, and poised to build a business with real enterprise value.
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Mindy Diamond is President & CEO of Diamond Consultants in Morristown, N.J., a nationally recognized boutique search and consulting firm in the financial services industry.
