It isn’t just consolidators or larger national / regional firms who are looking to grow through acquisition. There’s an increasing number of local firms that are buying advice, planning and wealth management businesses.
This could be the perfect option if your preference is to sell to a firm that’s aligned with your values whilst giving your clients continuity of a local service, which can be very reassuring.
After your sale completes, you will likely be working with the acquiring firm in some capacity. When you’ve been used to running your own small business, working with a similar-sized organisation can be more attractive than working for a larger entity with a corporate feel you’re just not used to.
A local firm is unlikely to be able to compete financially with larger firms due to restrictions on their own business value and their ability to raise capital. But it’s possible that the transaction can be tailored to your specific needs, including a longer-term deal structure. You may feel comfortable with this offset, especially if it means reducing the potential upheaval for clients.