If I could summarize my advice for a successful merger in one sentence, it would be, “Find the right partner, get to know them well, take a risk, and trust and respect each other."
Philip Palaveev, CEO of The Ensemble Practice LLC. |
Summary: While outright acquisitions and deals get all the media attention, mergers are quietly transforming the industry. At the time you read this, thousands of advisors are negotiating the combination of their practices with others in order to create scale, leverage each other’s skills, gain resources, and tackle succession. Perhaps the fastest and best way to grow into a bigger firm is by merging with another business.
If I could summarize my advice for a successful merger in one sentence, it would be, “Find the right partner, get to know them well, take a risk, and trust and respect each other."
Philip Palaveev, CEO of The Ensemble Practice LLC. |
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