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Are You Ready To Sell Your Advisory Firm?

If you’re anything like me, you are passionate about what you do and the clients you serve. You’ve probably spent countless hours building your advisory firm from the ground up and are proud of the career you’ve experienced. But now you are beginning to slow down, looking to retire and move on to the next stage in life. The problem is, you want the best for your clients because of how much you’ve invested in their lives. Can you walk away from all you’ve worked for? Here are some questions to ask yourself as you face this life transition.



Why Do I Want To Sell?

All of us will reach a point where we are ready to move into the next season of our lives. Whatever the reason - failing health, a shift in goals and priorities, impending retirement - you will need to evaluate how to wrap up your business so that your clients are left in good hands. In order to do that, you will need a concrete plan.

Do You Have A Plan?

A study conducted for Advocis in 2014 by PricewaterhouseCoopers found that 44 percent of those with insurance, mutual fund and securities licenses are 55 years or older. (1) According to a report by the Financial Planning Association, only 25% of all advisors have a plan to transition their business. (2) Having a plan in place will ensure that the leadership transition is free of any hiccups that could negatively affect your clients.


If you are ready to retire, you have two options: you can either refer your clients to someone else in the industry and shut everything down or you can sell your firm to another advisor. Since your business is what it is because of your clients, you probably don’t want to leave them floundering, especially after years of walking alongside them and building relationships.


You have put your clients first throughout your whole career, now it’s time to continue making them a priority by creating a plan that will take care of them and their money. If they hear you discussing retirement or see you slowing down, they may become concerned about the future of your firm. Once you have a plan in place, make sure you communicate it to your clients so they are aware of the transition process and can rest easy, knowing you are continuing to work hard on their behalf.

Who Should I Sell To?

If you have worked for decades to build your practice from nothing, the decision to sell might feel like giving up a child. You aren’t selling a product, you are selling the years of relationships you have invested in. That is why it is critical that you find the right fit with an ideal buyer so you can move into retirement with confidence. Be sure your buyer not only has the right qualifications to take care of your client’s needs but also shares the same values and goals as you. Your future buyer might do some things differently, but if you can find someone who will treat your clients like family then you can rest easy, knowing your clients are in good hands.

Am I Ready To Sell?

Selling your advisory firm is not a decision to be taken lightly, but it is one you will face as you near the end of your accomplished career. If you are considering selling your business, the most important factor is to find a financial firm you can trust, who shares your priorities, and will treat your clients the way you have.


At Montag Private Wealth, we care about our clients. We take the time to get to know each person we work with, creating a customized plan based on their unique goals and dreams. We are relationship-driven and value transparency and honesty. If you are ready to sell your firm and believe that we could be the right fit, call my office at 877-292-0009.


About Carl

Carl Martel is the president and portfolio manager of Montag Private Wealth. Along with more than 15 years of capital market experience and 10 years of experience in real estate hard assets, he is a Chartered Investment Manager® and holds a Certificate in Derivatives Market Strategies from CSI Global Education, a Master of Science from Laval University, and an MBA from l’Université du Québec à Montréal. A focused and pragmatic, results-oriented investment professional and entrepreneur, he specializes in serving the unique financial needs of high net-worth individuals and families, foundations and endowment funds, and business owners. To learn more, visit or connect with Carl on LinkedIn.