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.

A revised and expanded look at how to thrive and prosper in the financial advisory business

A new and revised edition of the eye-opening, no-nonsense handbook on managing and growing a financial-advisory business, "Practice Made (More) Perfect" is packed with industry insight and practical ideas that every leader and manager within a financial advisory practice needs to know in order to get the most out of their business. Regardless of how little time is available or how seriously challenged a firm may be, this book contains the information that can help. The principles of sound management apply to firms of all types, and the tools provided in this book are guaranteed to be applicable under practically any circumstances.Written by industry expert Mark Tibergien, one of the "25 Most Influential" people in the financial services industryA new edition of a bestselling Bloomberg titleIncludes fresh insight on recent topics, including how advisors responded during the latest meltdown, the implications of the aging advisory profession, the challenges of attracting and keeping both clients and staff, the role of organizational design in a growing business, recent changes in compensation planning and implementation, and key information on leadership and management in today's financial world

Many financial advisers run their businesses as if acquiring more clients will solve any and all problems, but without a strategic framework, more clients just lead to more demands and less time to meet them. The truly successful firm will build strategy, structure, and processes that will ultimately translate into increased profits, cash flow, and transferable value.