Category: Financial Planning

FEATURE
Creating a Winning Compensation Plan (Ep. 10)

Creating a Winning Compensation Plan (Ep. 10)

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Ever wondered why top financial advisors stay loyal to their firms or jump ship? 

Dive into this episode where David Grau Jr. unravels the mysteries of compensation in the financial advisory industry. Discover the pitfalls of traditional revenue-based models and the power of intentional design in compensation plans. Don’t miss this deep dive if you want to ensure your business’s success!

David discusses:

  • The evolution of compensation models: Lifestyle practice vs. true enterprise
  • The drawbacks of traditional revenue-based compensation systems
  • The critical role of benchmarking and recalibrating compensation plans
  • And much more…

 

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group, a succession and M&A consulting company for advisors. Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is currently one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and has a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen and their three children are long-time residents of Portland, Oregon, but take every opportunity to travel.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business David had a beautiful head of hair. Now he doesn’t.

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Succession Planning: The Secret Sauce to A Smooth Exit Strategy (Ep. 9)

Succession Planning: The Secret Sauce to A Smooth Exit Strategy (Ep. 9)

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Do you know where your practice is going once you decide to let go of the wheel? Can it survive without your direction? Do you know what processes to start implementing now to ensure a smooth transition of your business?

In this episode, David Grau Jr. is joined by Matt Cooper, the President of Beacon Pointe Advisors. They discuss the importance of succession planning for independent advisors and the process of putting deals together in the private equity industry. 

Matt discusses: 

  • Insights on Beacon Point’s growth and expansion through M&A transactions, their criteria for affiliating with other firms, and the importance of next-generation talent.
  • The need for personal connections and addressing both economic and emotional aspects in deals
  • Advice for buyers and sellers based on their experiences
  • And more

 

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Connect with Matt:

About our Guest: 

Matt is a founding partner of Beacon Pointe Advisors and oversees the firm’s strategic plan focused on mergers and acquisitions, creating synergistic partnerships between Beacon Pointe and other wealth managers across the country. Matt has been featured in Financial Planning Magazine, Barron’s, InvestmentNews, Citywire, Financial Advisor IQ, and Forbes, among other publications. He also regularly speaks on a host of wealth management and industry-related topics across various national conferences. Matt has a passion for continuous lifetime learning with a focus on the wealth management and financial life management industries. At a time when the RIA industry is changing more rapidly than any other point in history, his focus is on building the best possible business to serve clients and to assist other wealth advisors in meeting their lifetime goals. Matt graduated from the University of Southern California Marshall School of Business with a BS in Finance and Business Economics. While at USC, Matt served as President for the Sigma Alpha Epsilon Fraternity. He remains a supporter of both the University and the National Fraternity. Matt has served on the Advisory Committee of Serving People in Need (SPIN), is past President of Newport Mesa National Junior Basketball, past President of the Andersen Elementary School Foundation (DEANS), is a member of Legatus International, and also served on the Investment Committee of The Orange Catholic Foundation. He lives in Dallas, Texas with his wife and has three sons. Matt enjoys traveling, running and exercise, and spending time with his family.

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Building Intentionally: The Key to Creating A Thriving Advisory Firm (Ep. 8)

Building Intentionally: The Key to Creating A Thriving Advisory Firm (Ep. 8)

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As the founder of an advisory firm, it’s your moment to embrace the mantle of true leadership and propel your firm towards unprecedented success. While it may seem like a natural progression for a founder, the transition is often more challenging than it appears.

In this episode, David Grau Jr. dives into the shift from being a producer to a CEO in the industry. David underscores the indispensable role of exemplary leadership in thriving firms, emphasizing the need to metamorphose from an owner-operator to a CEO for a sustainable enterprise’s development.

David discusses: 

  •  Essential attributes of triumphant business leaders such as intentional building, dismantling of silos, and fostering cohesive teams
  • The significance of clear job descriptions and career paths in enticing the next generation of talent
  • The art of enterprise-building: strategies for constructing a business that serves your vision and more.
  • And more!

 

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How Much is Your Financial Practice Worth? (Ep. 7)

How Much is Your Financial Practice Worth? (Ep. 7)

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Unleash the true value of your business and pave the path to lasting success! Selling your business requires more than just looking at profits and client numbers. Join us as we uncover the key to understanding what truly makes your business successful and how future owners can sustain that triumph. 

In this episode, David Grau Jr. and Ryan Grau, CVA, CBA explore the reality of evaluating a business as a financial advisor and how to determine the value of a business even after selling it. They dive into key performance indicators a buyer focuses on when the future of a business and its value after the sale.

In this episode, you’ll gain invaluable insights on:

  • The specific metrics that determine the evaluation of a firm, tailored to its unique size
  • The hidden power of employee and business framework synergy, which significantly enhances the value of your business
  • The critical sources of growth within your business and how they impact its overall worth
  • Why relationship-based businesses thrive on active engagement with clients and their network
  • And much more!

 

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Connect with Ryan Grau:

About our Guest: 

Ryan Grau earned his Certified Valuation Analyst (CVA) credential and Certified Business Appraiser (CBA) credential from the National Association of Certified Valuators and Analysts (NACVA) and Institute of Business Appraisers respectively. He’s currently a candidate for the Accredited Senior Appraiser (ASA) credential. Ryan’s also certified by the Appraisal Foundation on the Uniform Standards of Professional Appraisal Practice (USPAP) and has been admitted multiple times as an expert witness by the Financial Industry Regulatory Authority (FINRA) as well as various state judicial authorities.

Ryan’s an industry authority on value and valuation of investment advisory, wealth management, and insurance-based businesses. He’s performed thousands of valuation in the last ten years for various purposes such as mergers, acquisitions, charitable gifting, granting shares, divorces, damage claims resulting from breach of contract, C-S Corp. election, estate tax, and institutional lending. Ryan authored, as well as contributed to, various industry publications and best-selling books on the topics of succession planning, valuation, and acquisition of independent financial service and advisory practices.  In 2018, Ryan was recognized as one of the NACVA’s top 40 Under Forty honorees for his accomplishments and contributions to the profession.

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Expanding Your Practice: Key Tips (Ep. 6)

Expanding Your Practice: Key Tips (Ep. 6)

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There may be something comforting about selling your practice to someone you know, someone already working with you, but what makes that a better option than selling to a third party?

In this episode, David Grau Jr. dives into the complexities of expanding your business and what to consider when looking at next gen talent. He offers some tips on mentoring, training and the importance of intentionality. 

David discusses: 

  • What to consider when looking to sell or expand your practice 
  • How to create sustainable growth in the advisor space
  • Navigating the complexities of expanding across your advisors, what to consider and how 
  • What it takes to create the most well rounded team based on your expectations
  • And more!

 

Connect with David:

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group, a succession and M&A consulting company for advisors. Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is currently one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and has a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen and their three children are long-time residents of Portland, Oregon, but take every opportunity to travel.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business David had a beautiful head of hair. Now he doesn’t.

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The Importance of Succession Planning for Advisors (Ep. 5)

The Importance of Succession Planning for Advisors (Ep. 5)

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Many advisors often fail to plan for their eventual retirement and succession, risking their legacy and business.

Without a well-designed succession plan, they may face difficulties in finding a suitable successor, maximizing the value of their business, and securing their legacy for future generations.

In this episode, David Grau Jr. dives into the crucial topic of succession planning, emphasizing the importance of designing a plan regardless of how far away retirement may seem. Additionally, David explains three key details to avoid when creating your succession plan.

David discusses: 

  • What succession planning is
  • The value of writing down retirement and succession plans for advisors
  • The importance of starting to think about succession planning and exit strategies early on in one’s business
  • The pros and cons of internal succession planning versus third-party sales for advisors looking to maximize the value of their business
  • The value and mixed opinions of aggregators in the financial industry
  • The importance of valuing your business annually to build a better, more valuable business and to pass on something of value to your heirs
  • Three things to avoid when it comes to internal succession planning
  • And more!

 

Connect with David:

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group, a succession and M&A consulting company for advisors. Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen, and their three children are long-time residents of Portland, Oregon, but take every opportunity to travel.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, and reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business, David had a beautiful head of hair. Now he doesn’t.

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Family & Finances: What To Expect (Ep. 4)

Family & Finances: What To Expect (Ep. 4)

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There is nothing that can divide a family faster than money issues. When merging firms and keeping them within the family, there are a number of considerations that you need to take into account. 

In this episode, David Grau Jr. discusses the ins and outs of selling your practice to a family member and how the dynamics can get strained, as well as ways to resolve conflict that can help get everyone on the same page. 

David discusses: 

  • The dynamic between leaving your practice to your children and how they can take over seamlessly 
  • How family dynamics can be strongly impacted by issues regarding money
  • What to expect when passing off your practice to a family member
  • And more

Connect with David:

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group, a succession and M&A consulting company for advisors. Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen, and their three children are long-time residents of Portland, Oregon, but take every opportunity to travel.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, and reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business, David had a beautiful head of hair. Now he doesn’t.

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Loans, Interest Rates, and Lending Solutions: Inside PPC Loan with Dustin Mangone (Ep. 3)

Loans, Interest Rates, and Lending Solutions: Inside PPC Loan with Dustin Mangone (Ep. 3)

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Are you struggling to figure out how to finance deals in today’s competitive market, where interest rates are skyrocketing, and valuations are at all-time highs? As an advisor, growing your business through inorganic acquisition can be a tremendous opportunity, but it comes with its challenges, including figuring out the capital requirements to fuel that growth.

Join David Grau Jr. in this captivating episode as he sits down with Dustin Mangone, the Managing Partner and Director of PPC LOAN. With a proven track record of working with service sector cash flow-based businesses, including insurance agents and investment advisors, Dustin and his team at PPC LOAN are experts in financing deals and providing the capital you need to grow your business.  

Topics Dustin discusses more on: 

  • Insights on the importance of having a strong financial plan in place to achieve long-term business success
  • Comparison of PPCLoan with other lending companies
  • Guidance on private equity issues to help companies in need
  • Strategies for companies to create a plan for the future success of their business
  • And more

Connect with Dustin: 

Connect with David:

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group, a succession and M&A consulting company for advisors. Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen, and their three children are long-time residents of Portland, Oregon, but take every opportunity to travel.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, and reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business, David had a beautiful head of hair. Now he doesn’t.

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Selling Your Practice: When is the right time? (Ep. 2)

Selling Your Practice: When is the right time? (Ep. 2)

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Are you an advisor planning for the future? It’s time to take a closer look at your succession plan. In today’s market, a book of business is no longer just for inheritance and referrals – it’s a valuable asset that can be sold for a significant profit.

In this must-listen podcast, David Grau Jr., MBA, provides expert analysis of the changing industry landscape and shares invaluable insights on the true value of your books of business. With recurring revenue at stake, it’s essential to know when and how to sell your practice for maximum profit.

In this episode: 

  • Discover the key factors that contribute to the value of your practice, and how to effectively sell it for maximum profit.
  • Find out what makes a practice a prime candidate for merging, and how to avoid inflated valuations that can limit your success.
  • Learn how to overcome the biggest challenges advisors are facing today, and stay ahead of industry changes.
  • Gain valuable advice on attracting the next generation of top talent to adopt books of business, and build a successful succession plan.
  • And that’s just the beginning – there are plenty more valuable insights to explore!

Connect with David:

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group, a succession and M&A consulting company for advisors. Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen, and their three children are long-time residents of Portland, Oregon, but take every opportunity to travel.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, and reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business, David had a beautiful head of hair. Now he doesn’t.

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Welcome to SRG Off Script With David Grau Jr. (Ep. 1)

Welcome to SRG Off Script With David Grau Jr. (Ep. 1)

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Welcome to SRG Off Script, the podcast where experts at Succession Resource Group unpack the latest industry trends, recommendations, and observations, for independent advisors managing their own financial services practice, with no fluff and a little entertainment.

In this episode:

  • Get an exclusive look into David’s early years in the financial services industry
  • Discover how the M&A landscape has evolved over the years and what it means for your business
  • Learn how the team at Succession Planning helps clients achieve their goals and maximize their value
  • Gain valuable personal and professional insights from David on what he finds most rewarding in life
  • The critical role of planning ahead in business exits: learn how to maximize the value of your business and set yourself up for a successful exit 

Don’t miss out on this incredible opportunity to learn from one of the industry’s most respected experts. Tune in now and get ready to take your financial services game to the next level!

Connect with David:

About David: 

David Grau Jr. is the founder and CEO of Succession Resource Group (SRG), a consulting firm serving independent financial advisors. . Prior to launching SRG, David was the leading M&A consultant for a well-known succession planning firm to advisors where he led and developed numerous programs for RIAs. Prior to this role, David served in the United States Navy.

David is a published author and accomplished speaker and has been interviewed and cited in dozens of publications over the last decade. He is one of the leading speakers in the financial services industry on M&A and next-gen building strategies, with over 200 presentations to his credit. In the past five years, he has spoken at a variety of the industry’s leading firms, including LPL Financial Services, Wells Fargo, Ameriprise Financial, ING, Independent Financial Group, Geneos, Swan Global, Advisor Group, Fidelity, Jackson National, Prudential, Raymond James, and regularly volunteers his time speaking for the Financial Services Institute (FSI) and FPA chapters around the country.

David holds a Bachelor’s Degree from Portland State University and a Master’s Degree from Willamette University’s Atkinson Graduate School of Management. David, his wife Kristen, and their three children recently relocated from Portland, Oregon to Austin, Texas, and take every opportunity to connect with their new community.

Fun Facts: David enjoys spending time with his family, reading, running, is an avid wine enthusiast and developing a taste for cigars, loves traveling, and reading, he also enjoys snow and water sports and loves basketball (playing or watching). Prior to having three children and starting a business, David had a beautiful head of hair. Now he doesn’t.

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