Advisors Leaving the Industry
Whether you have been in the business for five years or fifty years you’ve worked hard to build something of value. Now it is time to consider an exit strategy.
Cutter Advisors Group has purchased several practices in the past six years and they have all proven to be very successful for all parties. Our excellent client retention is evidence that they have been pleased with the services they receive. Just as important, the sellers have received all of their payments, per the contract, and were able to transition out of the business as planned. Obviously you want to get a fair price for the business you have worked so hard to build; but just as important is maximizing client retention by finding the “best match” for your clients, which means finding a successor with the experience, credentials, integrity and personality your clients will be comfortable with, and minimizing any inconvenience on their part.
If you are considering retiring or leaving the industry and would like to speak confidentially with us, we would be happy to discuss your particular situation in more detail.
Advisors Considering Growth Through Partnership
Being a financial advisor is one of the greatest jobs in the world; but being a successful advisor is tough. Many people who have had success throughout their lives struggle when trying to establish and grow a financial advisory practice. We have been there ourselves.
If you are new to the industry and considering a growth-through-partnership strategy I would first encourage you to read Hit The Ground Running: A Survival Guide For New Financial Advisors, by Michael S. Nichols, PhD (ISBN 978-1-4575-1717-4) available at Amazon, Barnes & Noble and fine bookstores everywhere.
This book was conceived as a complement to a formal training program and hands-on experience. The goal is not to teach you about products, or compliance policies and procedures, or to tell you how you should do your business. The goal is to discuss some important issues that usually aren’t covered in formal training programs and to provide you with the background you need to make thoughtful strategic business decisions. It will help you avoid some of the potholes that so many new financial advisors encounter.
We hope you find this manuscript significant and entertaining and that you will take away some valuable insights to help you design and build a successful financial advisory practice. If after reading the book you would still like to speak confidentially with us about partnering with Cutter Advisors Group, we would be happy to talk with you.