Wealth Solutions Report - Larry’s Take - November 4

Larry Roth posted his weekly “Larry’s Take” commentary on the deals and recruiting in the wealth industry on Wealth Solutions Report as part of its Deals & Recruiting Roundup.

While M&A advice is readily available for advisors who are looking for succession or exit, Sowell Management’s collaboration with Capital Connect is providing a mechanism for advisors to do the same for their business owner clients. Like advisors, clients who own businesses are approaching retirement with the same needs to monetize, pass the reins and secure a bright future for themselves, their customers and their families.

As Sowell said, this move will allow their advisors to stay with clients through the entire life cycle of their businesses. In other words, advisors risk attrition from business owner clients if they can’t find a way to stay relevant and central to client needs when the business changes hands.

Like the Great Wealth Transfer, which receives much attention, there’s also a Great Business Transfer happening that is providing opportunities for advisors, including building deeper relationships with clients as they exit their businesses, as well as prospecting the new business owners.

If you would like to discuss this Larry’s Take further, including how these trends might impact your business, please contact Larry Roth at larry.roth@ascentix.com.

To see the Wealth Solutions Report Deals & Recruiting Roundup for the week, click here. Visit Wealth Solutions Report for the latest wealth management insights, analysis and news.