SIMPLIFYING ACQUISITIONS

The fastest way to grow your practice is through acquisitions, but it’s a complicated, time-consuming endeavor.

We can make it easier for you.

Buying another practice

Takes a lot of time, attention, and resources.

First, you must assess your own practice to determine your preparedness for an acquisition (capacity, operations, financing, and more…). Then you need to identify a list of potential practices for sale.

Next comes your due diligence on each prospective purchase:

  • Will their culture fit with yours?
  • What’s their vision for the sale?
  • What are their financials?
  • Can your cash flow handle the purchase?
  • How will your current clients be affected?

Once you’ve zeroed in on a target, you submit a bid and work through the terms of the deal. You want the best deal for yourself, but you want the seller to come out feeling good as well.

When your bid is accepted, then you begin to work through the legal aspects of closing the deal.

Finally, you will need to integrate the new practice into your current practice.

  • Who will service which clients?
  • What will the new corporate structure and hierarchy look like?
  • How will retained team members mesh with your current team?
  • Can you handle the increased burden?

If this sounds like a lot, it’s because it is, especially if you’ve never done it before.

Consider these questions – are you prepared to acquire a practice?

  • Why do you want to grow by acquisition?
  • What specific qualities and criteria are you looking for in a practice?
  • Have you considered the potential risk involved?
  • What are your worst, more-than-likely, and best case scenarios?
  • Have you evaluated your practice to determine your capacity for new clients?
  • Do you possess the skill set and drive to lead a larger practice?
  • Have you built out a current and future org chart to plan for growth?
  • Have you run forecasts to identify the best scenarios and avoid financial disaster?
  • Do you know the value of your own practice so you can understand the drivers to increase equity?
  • Do you have relationships with several lenders who can help you?
  • Have you done a deep dive on the rules and requirements from your broker-dealer?
  • Have you scripted your value proposition and built a prospectus for sellers to show why you’re the best candidate to buy their practice?

  • Have you put together a plan to network and communicate with potential sellers?

Need help? We can guide you – just fill in the contact form below and we’ll talk!

WHAT OUR CLIENTS ARE SAYING

“Our investment in coaching with D2 initially helped our team to appreciate our value to clients and to raise pricing and productivity while instilling the confidence to make strategic investments in staff and infrastructure to create a platform for growth.

Travis and the team have also been instrumental in working through staff challenges and offering a la carte advice to address growing pains and to make smart decisions around investments and practice acquisitions. 

– Randy Perkins, CFP®, CRPC™, Private Wealth Advisor, Perkins-London Wealth Advisors
East Meadow, NY

“My decision-making skills have certainly increased over the past six months, and my optimism with where we are now as a team has not been this strong in a long time. I am grateful for the knowledge and experience.”

– Paula Dougherty, Private Wealth Advisor
Springfield, MO

“The number one thing D2 has helped me with is accountability. They make me think about the solutions that are necessary for myself personally, and for my entire practice and for my team.

The results have been wonderful and the investment in D2 is one hundred percent worth it. 

– Ed Poach, Private Wealth Advisor, CEO, FORTIFY Private Wealth Management
Canonsburg, PA

“Working with Dynamic Directions has made a huge difference in our growth. We have become more focused on processes and how people fit into specific roles. It would be very difficult to achieve the results we have without their guidance. Most important is, they grow with us! That has been a key to our successful relationship.”

– Jay Woerdeman, Private Wealth Advisor, CEO, The Woerdeman Financial Group
Kingston, MA

“My coaching relationship with D2 has help me think differently than before. By thinking differently, I have been able to drive exponential growth while keeping work-life balance intact.”

– Scott Leibfried, Private Wealth Advisor, CEO, StackStone Wealth

“Dynamic Directions has helped me grow my business and understand it better. They have helped me stay on the cutting edge so I continue to do things very few advisors are doing. It has evolved from a mentor/mentee relationship to friendships. I value it very much both on the professional side and the personal side. D2 has answers to almost everything, and they’re always available for you.”

– Dan Gamm, Private Wealth Advisor, President, TW Financial Group
Warwick, RI

Contact us

What’s the Right direction for You?

We help financial advisors build an extraordinary life and practice. Fill in the form below so we can find out what extraordinary means for you.

Name(Required)
This field is for validation purposes and should be left unchanged.