Advisers preparing to exit the profession should get their business in shape long before sitting down with brokers or potential buyers as any “gremlins” will be discovered eventually, delegates heard.
The Exit Partnership head of strategic exits Brian Hill said it was essential advisory business owners "get their ducks in a row" before starting the sale process. He said it was a "long-term play" and they need to leave their "ego at the door" during the process, putting clients as the main priority. "Selling your business is like donating a kidney. Everybody is bought out - you're either bought out, pushed out or wheeled out," he said at the Personal Finance Society Festival of Financial Planning 2022. "The first one is the only one you can control. "Always put culture before cash. ...
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