looking for guidance on purchasing books of business. Succession Link has proved fruitless. Are their introducing brokers/consultants that can guide us? We are looking for any size book, in the Midwest.

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I contacted every listing in the Midwest, got zero responses. Only spammers trying to reverse recruit with a fake listing.

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Best way to find sellers is networking with the veteran advisors at associations and other conferences. Develope a conversation comparing business models amd philosophies. Then eventually ask what their goals are for their own retirement. I've purch 4 this way.

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Interesting, I was considering joining Succession Link. Why was it not helpful? I am also interested in know by what is working. Looking to purchase or bring advisors on in the Long Island area.

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We tried succession link as well and what a joke. We too are looking at where can you find a book to purchase if I cp me across something I will pass along.

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Also looking to buy a book or take on an "slowly retiring rep" on Long Island

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Contacted every listing in our area got zero responses.

An advisor in my network is looking to purchase a book in the Phoenix metro / East Valley area. Most threads that I've seen tend to be buyer focused. Any recent successes?

They give a good lunch - haven't see any other results in 2 years

When getting turned down by a prospect because they “have a guy”. Ask about that guy and get approximate age. Chances are, their guy is getting closer to retirement and probably needs help with his succession planning. We have started 2 book valuations this way.

We also are in the Midwest and used SL. No responses back at all. Waste of $

Aaron Hasler at Fine Tooth Consulting is a succession match maker. Based in Twin Cities area MSP. Good guy. (612)669-9073

Aaron Hasler is a good guy. Buying a book is very hard. Think about it, there are probably 50 buyers for every seller. Succession Link is just one tool you could be utilizing. I’ve been on it for 2-3 years and it’s helping me plant seeds. Very few acquisitions happen within 12 months, so you need to be out there playing in traffic and developing relationships. It amazes me how many advisors aren’t willing to spend a little money on their business. Just my two cents

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Additional Posts in Succession Planning: Buy/Sell Practice

Does anyone know a basic rule of thumb to value and agency not just a book?

What do you feel is a reasonable multiple to pay for recurring revenue (wrap)?

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Looking for practices in Oklahoma and Arkansas to possibly purchase.

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Anyone in Maine or New Hampshire?

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I’m currently a wire house FA who received assets from a retiree. I likely have 4 years before I’d be able to move my book of business, but I definitely want to move to an Indy channel. When should I start these discussions with other firms/business owners and are there benefits to merging with an existing practice at that time?

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Established buyer backed by a solid firm seeking $1m+ in fee and commission generating revenue from sole practices and teams (based on T-12 production and AUM) to integrate into our system across the U.S. Upfront payouts followed by asset bonuses based on timely asset transfers. Serious inquiries from Principals only.

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