Your retirement — your way.
Selling your practice is a major step and will require some tough decisions. The right succession strategy for you will depend on your personal objectives. Ask yourself:
What should I look for in a successor?
The ideal successor will share your values and approach to client service. It's also important that the company behind your successor is financially strong and has the product depth to meet your clients' needs. Ameriprise financial advisors build deep and lasting client relationships based on our unique approach to financial planning and advice. When you sell to an Ameriprise financial advisor, your clients have access to a wide range of investment and insurance products.
When should I sell?
Even though many advisors sell their practices outright, Ameriprise gives you the option to transition over time, team with an advisor, or scale back and work only with select clients. In addition, our sunset opportunity offers qualified employee advisors a three-year compensation plan that allows for a smooth transition to Ameriprise followed by a planful exit from the business.
What is my business worth?
There are many components to valuing a financial practice. At Ameriprise Financial, we look at much more than revenue or assets under management. The Practice Acquisitions team at Ameriprise Financial will help you understand what your practice is worth, based on our industry knowledge and experience. We study a number of factors to determine the value of a practice, including:
- Assets under management
- Revenue mix
- Business longevity
- Areas of specialization
- Number, age and tenure of clients
- Client service model
- Products offered
- Office location
Our payment structures for our employee advisors are industry standard, and include options for flexible deferred payments. To discuss the potential value of your practice with an Ameriprise Financial professional, please contact us at 888.267.8370.
Investment advisory products and services are made available through Ameriprise Financial Services, Inc., a registered investment adviser.