Private Advisor Group Creates Efficient Path to Succession, Continuity and M&A

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Aug 08, 2024, 10:02 ET

New Strategic Partnership with Succession Link Reinforces Commitment to Financial Practice Lifecycle

MORRISTOWN, N.J., Aug. 8, 2024 /PRNewswire/ -- Private Advisor Group, one of the largest and fastest-growing independent wealth management firms in the country*, has introduced a new path to succession planning, business continuity, M&A, and hiring through a partnership with Succession Link. Advisors looking to buy a practice, hire, sell, or find a continuity partner can now kickstart planning with Succession Link. With this strategic partnership, the entire Private Advisor Group community will gain access to an exclusive marketplace to source, post, and identify a wide array of succession opportunities.

As more advisors are retiring faster than new ones are joining the profession, there's an increased urgency to enhance succession planning solutions within the independent sector. According to a 2023 J.D. Power study, the average age of U.S. financial advisors is 56, and 20% are within five years of retirement. Additionally, a recent Cerulli Associates report notes that nearly 40% of financial advisors in the U.S. plan to retire by 2030, with 26% unsure of their succession plans.

"Private Advisor Group embraces a core value across its community to 'enjoy the journey,' taking great care to protect the steps, twists, and turns during every stage of a financial practice's journey," said Donald Stahl, Private Advisor Group's head of sales and solutions. "Navigating unforeseen events and ensuring continuity is a challenging but essential part of our work with advisors and their families. Internally, the seamless leadership transition of Frank Smith succeeding RJ Moore as CEO underscores our commitment to effective planning. Advocacy for succession planning is integral to our ethos, highlighting the significance of this new partnership."

In addition to this new offering in partnership with Succession Link, Private Advisor Group offers a suite of proprietary programs, including the Advisor Protection Program, Alignment & Equity Program, and consulting services, to ensure the right support throughout the succession journey.

"With over 72,000 Succession Link members and growing, we've created an exclusive marketplace to source opportunities in the financial profession. Private Advisor Group's commitment to succession planning and creating opportunities for M&A, hiring, and more is admirable, and we're thrilled to expand our marketplace across their community of advisors," said Nicholas Gudz, Co-Founder of Succession Link.

Donald Stahl added, "Without a succession plan, advisors scramble to keep the business running smoothly, and precious value can be lost if planning is rushed. With a well-structured succession plan, advisors ensure continuity and stability in their practice, safeguarding core investor relationships, maintaining operational integrity, and securing critical leadership roles. We're thrilled to create a direct pathway for our advisors, providing them with the tools and resources they need to succeed in their succession planning journey."

With this new initiative, Private Advisor Group is taking a proactive stance to ensure the long-term success and sustainability of its advisors' practices. Learn more about Private Advisor Group at www.privateadvisorgroup.com.

About Succession Link

Succession Link is the leading networking and communication platform, connecting financial professionals who are interested in buying, selling, or merging their businesses. It provides state-of-the-art tools that leverage resources, data, and knowledge to set the stage for desired business expansion and succession planning opportunities. Succession Link recently expanded its platform and offering to include, white-label/enterprise option; a career marketplace for support roles and executive positions; and a financial advisor recruiting platform for broker/dealers, RIAs, and institutions. For more information, please visit successionlink.com.

About Private Advisor Group

Founded in 1997 in Morristown, NJ, Private Advisor Group is one of the nation's leading financial services firms. With over $31.5 billion in assets under management as of December 31, 2023, the firm leverages its resources to deliver strategies positioned to improve financial outcomes for individual investors and to inspire growth, fiduciary adherence, succession, and a client-centric approach for independent financial advisors' practices. Barron's has recognized Private Advisor Group as a top 10 registered investment advisory firm every year since 2019.

*Barron's "Top 100 RIA Firms" is based on assets managed, technology spending, staff diversity, succession planning and other metrics. Investor experience and returns are not considered. Neither Private Advisor Group nor its financial advisors pay a fee to Barron's in exchange for the ranking. Barron's publishes these rankings annually, most recently in September 2023.

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SOURCE Private Advisor Group