1 hr 11 min

074: Position Yourself to Buy, Transition, and Sell an Advisory Business w/ Christine Timms The Efficient Advisor: Tactical Business Advice for Financial Planners

    • Entrepreneurship

Every advisor I talked to knows the blood, sweat, and tears that goes into building a financial planning practice. And, every advisor believes that their business has value and wants to exit their business someday with a check that reflects that value they created (alongside the pride of building a business that lives beyond them). 
Today we’re diving into the lifecycle of a business… and what you need to be doing to position yourself as the ideal candidate to be chosen as a successor and buy a business to help grow your practice.


We’ll talk about what it takes to make a smooth transition from seller to buyer. And our guest will share a checklist she created to facilitate this process – and you know how I feel about a good checklist.. 


Then, we’ll talk about the sale component. Christine, who literally wrote the book on this topic, will share what she has learned about contracts, structuring the deal, and other things to consider when you decide it's your time to move on. 


I started, built, and sold my financial planning practice. And, while I definitely looking back at my career and feel pride and success… I also have the power of hindsight! I’ll of course share a few things about my transition too and what I would have done differently if I had to do it all over again. 
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Check out Christine's Books:

Transitioning Clients and the Retirement Exit Decision: Includes Strategies and Tools for Seeking and Implementing Group Referrals
 Team Building for Financial Advisors: Enhance Client Services, Grow Your Business and Improve Your Life 
Business Models for Financial Advisors: Develop and Articulate Your Unique Business Model

Connect with Christine on LinkedIn here!

Find her templates, tutorials, and videos her website  here! 
Curious about the Efficient Advisor Group Coaching & Mastermind? Get on the waitlist here for more information on the next session!    
Successful businesses don’t get built alone. You need community! You need collaboration! Join us in The Efficient Advisor Community on Facebook.
Check out more FREE resources and our FREE video library at http://www.theefficientadvisor.com
Looking for all the resources from this episode? Check out this episode’s webpage for show notes, transcripts, downloads and more!

Every advisor I talked to knows the blood, sweat, and tears that goes into building a financial planning practice. And, every advisor believes that their business has value and wants to exit their business someday with a check that reflects that value they created (alongside the pride of building a business that lives beyond them). 
Today we’re diving into the lifecycle of a business… and what you need to be doing to position yourself as the ideal candidate to be chosen as a successor and buy a business to help grow your practice.


We’ll talk about what it takes to make a smooth transition from seller to buyer. And our guest will share a checklist she created to facilitate this process – and you know how I feel about a good checklist.. 


Then, we’ll talk about the sale component. Christine, who literally wrote the book on this topic, will share what she has learned about contracts, structuring the deal, and other things to consider when you decide it's your time to move on. 


I started, built, and sold my financial planning practice. And, while I definitely looking back at my career and feel pride and success… I also have the power of hindsight! I’ll of course share a few things about my transition too and what I would have done differently if I had to do it all over again. 
--------------------------------------------------

Check out Christine's Books:

Transitioning Clients and the Retirement Exit Decision: Includes Strategies and Tools for Seeking and Implementing Group Referrals
 Team Building for Financial Advisors: Enhance Client Services, Grow Your Business and Improve Your Life 
Business Models for Financial Advisors: Develop and Articulate Your Unique Business Model

Connect with Christine on LinkedIn here!

Find her templates, tutorials, and videos her website  here! 
Curious about the Efficient Advisor Group Coaching & Mastermind? Get on the waitlist here for more information on the next session!    
Successful businesses don’t get built alone. You need community! You need collaboration! Join us in The Efficient Advisor Community on Facebook.
Check out more FREE resources and our FREE video library at http://www.theefficientadvisor.com
Looking for all the resources from this episode? Check out this episode’s webpage for show notes, transcripts, downloads and more!

1 hr 11 min