Financial advisors register with the site as a seller or buyer. Sellers can offer all or a portion of their book of business for sale. Buyers can send inquiries on practices that they are most interested in through the website's private messaging system. Practice profiles include trailing revenue, the assets under management that are for sale, as well as the number of clients and accounts that would be included in the purchase. A revenue analysis shows commission sales compared to fees and a written overview offers additional details of the book of business being sold. Practice profiles are anonymous, and sellers can opt to communicate directly with potential buyers or request to have Succession Link filter interested buyers and bring them only the buyers who meet particular criteria. The website currently shows 38 total listings, with total assets under management of $1.2 trillion. The initial valuation of an advisor's book of business is provided upon registration. A full appraisal of a firm's value would be completed prior to the closing of a sale.
The founders of the service are also partners in a San Diego-based financial advisor placement firm, established in 2009. --Written by Hal M. Bundrick Follow @HalMBundrick