Tag: Succession Resource Group

Succession Planning and Scaling Businesses in the Financial Advisory Sector (Ep. 15)

Succession Planning and Scaling Businesses in the Financial Advisory Sector (Ep. 15)

Ever wondered how top financial firms plan for the future?

Discover the secrets of scaling your financial advisory business in this engaging episode of SRG Off Script. Host David Grau Jr. and guest expert Caleb Brown, co-founder of New Planner Recruiting, dive into effective succession planning strategies for independent advisors.

Key Discussion Points:

  • The pitfalls of succession planning 
  • Understanding the evolving roles in advisory firms
  • Navigating the challenges of recruitment and compensation in financial advisory
  • The evolution of a CEO’s role in financial advisory firms
  • Viability and efficiency of smaller, lifestyle practices
  • Emphasizing salary-based compensation models with growth opportunities
  • The balance between investing in employee development and managing turnover risks
  • And much more!

Resources:

Connect with David Grau Jr.:

About Caleb Brown: 

Caleb Brown is a renowned expert in the financial planning sector, specializing in connecting emerging financial planners with growth-oriented firms across the USA. As a CERTIFIED FINANCIAL PLANNER™ and a Kolbe Certified™ Consultant, he plays a pivotal role in mentoring and integrating new talents into the industry. Caleb is recognized for creating the FPA Career Day program and actively contributes to the financial planning community as a member of the FPA New Professionals Advisory Council and Chairman of NexGen. His experience includes over five years in an RIA firm and he’s been acknowledged as the Next Generation Influencer by Financial Planning magazine.

The Future of Business Growth with Julia Sexton (Ep. 13)

The Future of Business Growth with Julia Sexton (Ep. 13)

Want to know what sets successful businesses apart? 

Join us in the latest SRG Off Script episode, where Julia Sexton, Director of Strategic Organizational Planning at Succession Resource Group, unravels the complexities of strategic organizational planning. David and Julia’s conversations offer invaluable insights for independent advisors aiming to boost their business value, growth, and sustainability.

Key Highlights:

  • Discover how nurturing talent fuels business expansion
  • Dive into the secrets of effective compensation plans that drive success
  • Uncover how the right mix of incentives can keep top talent thriving
  • Find out how intangible rewards can drive real business impact
  • Explore innovative strategies for employee motivation and engagement
  • Learn how smart vesting aligns with company growth and employee loyalty
  • Discover the transformative potential of equity plans in shaping business futures
  • And much more!

 

Connect with David Grau Jr.:

Connect with Julia Sexton:

About Julia Sexton: 

Julia, SRG’s Director of Strategic Organizational Planning since 2023, specializes in guiding clients toward long-term success through tailored contingency and employment programs. With a comprehensive approach, she crafts individualized employee and owner compensation plans, structures equity rewards for sustained business goals, and supports growth initiatives through entity formation and M&A. Drawing on 5 years of experience as a certified business appraiser, Julia has completed over 2,000 valuations and facilitated 200+ successful mergers. Holding a CVA designation and a Bachelor of Science in Business Administration from the University of New Hampshire, Julia is a member of NACVA. Based in Providence, Rhode Island, she enjoys outdoor activities with her husband and golden retriever, engaging in competitive CrossFit, and unwinding on the beach with a good book.

Successful M&A and Financing Strategies with Parker Finot (Ep. 12)

Successful M&A and Financing Strategies with Parker Finot (Ep. 12)

Ever wondered why some deals soar while others sputter? 

From backdoor metrics to surprising valuations, we’re spilling industry secrets.

David Grau Jr. and Parker Finot from SRG invite you to join them as they unravel the mysteries of deal-making in the financial advisory world. Dive into the hidden metrics, unexpected valuations, and behind-the-scenes dynamics that shape business transitions.

Listen in as David and Parker reveal:

  • What really separates Deal Support from Succession Planning
  • Why full sales through asset acquisition are so prevalent
  • How consulting can make or break client relationships during transitions
  • Why some peer-to-peer deals seem undervalued, while others skyrocket 20-30% above expectations
  • Why sellers stay on post-sale and the evolving dynamics of peer-to-peer deals
  • And much more!

 

Resources:

Connect with David Grau Jr.:

About our Guest: 

Parker Finot, an M&A and Succession Plan Consultant at SRG, has nearly a decade of financial experience. He previously served as a San Diego financial advisor and was a pioneering Virtual CFO at LPL Financial. Educated at San Diego State University with a Professional Accounting Certification from UCSD Extension, Parker excels in corporate finance and business consulting.

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

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

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!

 

Connect with David:

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

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

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!

 

Connect with David:

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.

Expanding Your Practice: Key Tips (Ep. 6)

Expanding Your Practice: Key Tips (Ep. 6)

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.

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

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

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.

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

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

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.

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

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

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.

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

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

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.