Advisors Learn How to Integrate Exit Planning Services Today!

Podcast 187 – Selling a Financial Advisory Practice: A Former Financial Advisor Shares Tips and Advice

Selling a Financial Advisory Practice: A Former Financial Advisor Shares Tips and Advice

Our guest today was Steve Juetten, CFP and Founder of Bridgegate Partners, a firm who specializes in succession and exit for owners of financial advisory practices. Steve's background in M&A prior to becoming a CFP really gave him a great window on how to prepare when the time came for him to sell his practice. He decided through the lessons that he learned along the way, that advising other firm owners was a great way to sunset his working career. 

Steve said that figuring out “what's next” was one of his biggest hurdles, when after finishing his own process, decided he could help others with the process to have better outcomes. His focus was to make sure the transition benefited all parties: clients, colleagues, staff, and the buyer– not just himself. 

Many times, owners of financial practices believe their Book is worth more than it actually is. Not knowing how to value the quality of the Book is the biggest obstacle. Steve helps them understand the true value, and helps them achieve their best outcome, even when their RIA says they will 'help' with the transition. The truth is, Steve says, they don't care, as long as the assets under management and clients stay in place. In other words, an outgoing advisor needs outside help. And, there are far more advisors at 65 years and older than there are advisors young enough to buy their books of business, so make sure you have a buyer-ready business to sell. 

Steve offers a free resource for advisory firm owners. It can be downloaded here

Listen to the episode here

Connect with Steve here and Julie here 

Support the show

Are you ready for your best exit? There is no time like the present to prepare.
Check out these resources offered by KeyeStrategies:

Want Even More Insights?

Sign Up for the Poised for Exit Newsletter

Resources from KeyeStrategies

Business Readiness Transition Course
Preparing Your Business for Transition Book

Poised for Exit Book

Julie Keyes
Julie Keyes

Founder & Owner at KeyeStrategies, LLC

Julie is a Certified Exit Planning Adviser and Value Growth Advisor with 30+ years of experience. She works with business owners who seek to understand and maximize their exit and critical transition options.

Thank you to our Poised for Exit Sponsors!