RIA transactions require advisors who understand AUM-based valuations, client retention earnouts, and SEC compliance transfers — not generalist brokers.
Find Financial Planning Practice Deals Without a BrokerFinancial planning practices trade at 2x–4x revenue, driven by recurring AUM fees, client retention history, and compliance cleanliness. With thousands of aging solo practitioners lacking succession plans, specialized M&A brokers are essential to navigating custodian transfers, ADV filings, and earnout structures that protect both buyer and seller.
Boutique advisory firms focused exclusively on financial services transactions. They understand AUM valuation, custodian transitions, and regulatory compliance requirements unique to registered investment advisors.
Best for: Practices with $500K–$3M in recurring AUM-based revenue seeking maximum valuation and qualified buyer pools including PE-backed rollups.
Broad-market brokers handling $1M–$5M business sales across industries. May lack RIA-specific expertise but can provide wider buyer exposure and SBA loan facilitation support.
Best for: Smaller practices or commission-hybrid firms where industry-specific nuance is less critical than broad buyer outreach.
Rollup platforms acting as direct buyers, not brokers. They offer standardized deal terms, equity roll-in options, and operational infrastructure but represent their own interests, not yours.
Best for: Sellers seeking a fast, structured exit with ongoing equity participation in a larger platform rather than a third-party sale process.
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How many RIA or financial planning practice transactions have you closed in the past three years?
AUM-based deals require regulatory and valuation expertise. Generalist brokers without RIA experience can misvalue practices or mishandle compliance transfer requirements.
How do you value a practice with a mix of AUM fees, retainers, and legacy commissions?
Revenue quality drives multiples. A broker who can't distinguish recurring AUM revenue from transactional commissions will underprice or misprice your practice.
What is your typical buyer pool for a practice like mine — consolidators, individual advisors, or strategic acquirers?
Buyer type determines deal structure. PE rollups offer speed; individual buyers may offer better cultural fit and client continuity during transition.
How do you structure earnouts to protect the seller against client attrition post-close?
Client retention risk is the central deal risk. Brokers without earnout structuring experience may expose sellers to inflated attrition assumptions that reduce final payout.
Fee-only RIAs with 70%+ recurring revenue and clean compliance records typically sell at 2x–4x trailing revenue. Commission-heavy or non-recurring practices trade at the lower end of that range.
Yes. SBA 7(a) loans can finance RIA acquisitions up to $5M. Buyers need strong credit, relevant industry experience, and a practice with documented financials and recurring revenue.
Most RIA transactions take 12–18 months from engagement to close, including marketing, buyer qualification, due diligence, regulatory filings, and client consent processes.
An earnout ties a portion of the sale price — typically 20–30% — to post-close client retention. If clients leave after the sale, the seller receives less of the deferred payment.
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