Value Buy Sell Financial Advis

ISBN-13: 9781576601747 / Angielski / Twarda / 2006 / 354 str.

Mark C. Tibergien; Owen Dahl

Opis

Financial planning is a young industry. The International Association of Financial Planning--one of the predecessors to the Financial Planning Association--was formed less than forty years ago. But as the profession's first tier of advisers reaches maturity, the decisions that may be part of transition planning for their firms loom large. A sale? A partner buyout? A merger? No matter what the choice, its viability hinges on one critical issue--the value of the firm.

Unfortunately, many advisers--whether veteran or novice--simply don't know the worth of their practice or how to influence it. That's why How to Value, Buy, or Sell a Financial-Advisory Practice is such an important book. It takes advisers carefully through the logic and the legwork of coming to a true assessment of one of their most important personal assets--their business.

Renowned for their years of experience helping advisers tackle the daunting challenges related to the valuation, sale, and purchase of advisory firms, Mark C. Tibergien and Owen Dahl offer guidance that's essential and solutions that work.

Recenzje

"Anyone looking to value, buy or sell a practice will find it an invaluable resource."
– Financial Planning

"A thoroughly comprehensive book. Whether you re in the market to sell your firm or acquire someone else s, you will find it valuable in assessing both the present and future value of your operations."
– Research magazine

"Whether you are buying a practice, selling a practice, or just looking to maximize the value of your existing practice, this book will give you the tools you require to do so. I highly recommend it."
– MorningstarAdvisor.com

Spis treści

Acknowledgments.
Introduction.

Part 1. Defining Value.
1 Uncovering True Worth.
2 Evaluating Fiscal Health.
3 The Income Approach to Valuation.
4 Other Approaches to Valuation.

Part 2. Assessing Value.
5 Case Study: the Multiple–Partner Firm.
6 Case Study: the Solo Practitioner.

Part 3. Coming to Terms.
7 The Art of Negotiation.
8 The Seller s Perspective.
9 The Buyer s Perspective.
10 Getting All the Way to Yes.

Part 4. Ounces of Prevention.
11 Essentials of Due Diligence.
12 Antidote to the Postmerger Meltdown.
13 Making It Legal: A Sequence of Steps.

Part 5. Inside Stories.
14 Partnering: A Complex Choreography.
15 Buy–Sell Agreements: The Path to Happier Endings.

Part 6. The Marketplace.
16 Intermediaries: Making the Match.
17 Finding the Ideal Buyer.
18 Building Value: The Firm That Sells Itself.

Appendix of Sample Documents.
Index. 

O autorze

Mark C. Tibergien was a principal at Moss Adams LLP, the twelfth–largest accounting firm in the United States, where his responsibilities included management consulting, business valuations, and business owner succession. For the past five years, Accounting Today has recognized Tibergien as among the "100 most influential" people in the accounting profession. In 2003, Financial Planning magazine recognized him as a "mover and shaker" in their annual review of industry professionals, and for the past two years, Investment Advisor has recognized him as among the "25 most influential" in the financial–services industry. He is coauthor of Practice Made Perfect: The Discipline of Business Management for Financial Advisers. Tibergien is now CEO of Pershing Advisor Solutions.

Owen Dahl is a senior manager in the Valuation and Litigation Services group of Moss Adams LLP. He has provided commercial litigation, damages, asset–allocation, and acquisition consulting services to small and large corporations alike. Dahl specializes in issues relating to intellectual property and works with firms for which such issues are key. He has more than fifteen years′ experience in the investment–advisory industry. A native of Canada, Dahl is a chartered financial analyst and a member of the CFA Institute and the American Society of Appraisers.