The Efficient Advisor: Tactical Business Advice for Financial Planners
074: Position Yourself to Buy, Transition, and Sell an Advisory Business w/ Christine Timms
<p>Ever wish you knew an Advisor who built a 7-figure practice--while only working 3 days a week--that was willing to share her systems, processes, and business hacks with you? Meet the Efficient Advisor Podcast host Libby Greiwe. Her specialty? Breaking down the functions of a financial planning practice into actionable step-by-step processes designed to get you results and get you out of overwhelm. Expert interviews, done-for-you templates, and easy to implement solutions… all tied together by her MISSION to create ease in your business. She promises to deliver actionable step-by-step solutions you can implement right away to save time, money, and frustration. The goal--to lead you from overwhelm to efficiency. She started her own financial planning business in 2004. And, over the years she scaled into a 7-figure single-advisor firm while working only 25-hours a week so she could be super involved while raising her kiddos and loving on her hubby. She knows what it takes to build a 100% referral-only practice and to not have to GRIND out the hours to be successful. She ran her own planning business for 16 years culminating in a sale to an enterprise firm in 2019. Now, she’s simply just obsessed with helping other amazing advisors do the same thing. So if you’re an advisor who’s got the hang of planning and is now looking to grow to that first 500k of take-home pay… you are in the right place! </p>
Show Notes
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!
Check out The First 100 Days Course: The Advisor's Blueprint for a Remarkable Client Experience HERE!
Learn more about T2MWorks HERE!
Learn more about Asset-Map financial planning software HERE!
Learn more about our sponsor Beemo Automation HERE!
Check out the Efficient Advisor YouTube Channel HERE!
Connect with Libby on LinkedIn HERE!
Successful businesses don’t get built alone. You need community! You need collaboration! Join us in The Efficient Advisor Community on Facebook.
This episode is not processed yet. Sign in to queue the transcript and make it useful for search and Q&A.
Sign in to queue transcript (1 credit)
Free to start
Skim the episode first,
Skim the episode first,
then decide if it is worth listening.
Sign up with Google in one click. 10 transcript credits included. No card needed.
Google sign-in · No credit card · 10 free transcript credits