How selling an advisory practice can improve its book of clients

10/26/2011 | AdvisorOne

When selling a financial advisory practice, either to another firm or to internal junior partners, it's possible to retain most existing clients and even capture more of their investment dollars and referrals, according to one expert. When investment firms are sold to outside parties, the buyers usually are much larger than the seller, says David Grau Sr. of FP Transitions, and the bigger company has the capacity to serve existing customers and win their friends through word of mouth. As for internal sales, "properly incentivized and motivated junior advisers almost always breathe new life into an advisory firm," Grau says.

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