Talking to an older advisor at diff firm who minimal serviced book for years. Assets are $100m+ but bulk in one fund family, so low rev A trails. Anyone ever tackle a biz like this? Find opportunity

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Buy at a discount. Huge opportunity

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Should be tons of opportunity. Planning, fee based, estate planning, insurance, outside assets among many others. Most of his clients don't know they've been neglected for years and it's a crime.

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I agree. They’ll charge based on past revenue, not potential. You can do this and you don’t even need a ski mask or a note!

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The current service model should discount the multiple.

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Who is it I'll buy it

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Agreed to all of the above. I bet it is American Funds?💰

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They aren't known for growth funds or bonds. Move to fee based keep the good stuff and get better managers for bonds/ growth

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Good guess Morgan Stanley 1. Issue could be a bunch of low basis legacy A shares. Not a whole lot of justifiable changes (ie: move to fee based) other than for the sake of raising business revenue, agree or disagree?

Totally disagree. If they are close to or in retirement lots of justifiable reasons to move. To tired for details tonight. Maybe Sunday I'll post more
Because of cost basis probably will need to be done over time and you ll need to do your research to make sure it is moved to the correct tpam solution..which probably means a non proprietary solution depending on who I clear through.

I would check avg client age. I have found with older books some of these clients won’t do anything no matter how logical it is to switch them up or how good your advice is.

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