Tuesday, July 29, 2014

Considering a Move? Now Might Be The Time

Changing firms can be a challenging and stressful time. We have spent decades helping advisers change firms, dealing with restrictive covenants, garden leaves, old promissory notes, new promissory notes, injunctions and more. None of it is fun for the adviser, but all of it is manageable with proper planning and the right team in place.

We are seeing indication that recruiting is up the market is encouraging for advisers looking to change firms. According to Financial Planning.com, the high end of the wealth management market is a very, very good place to be right now. Valuations for advisory firms with over $500 million in assets under management are expected to escalate in the wake of this month's Boston Private Bank and Trust's $60 million acquisition of Banyan Partners -- made at what sources say was a valuation of nine times EBITDA. The high-profile sale is also expected to goose interest from well-capitalized financial companies seeking to pick off independent RIAs that have hefty assets, wealthy clients and a steady fee-based revenue stream.

And it is not just the high end. We represent advisers with all manner of revenue streams - you just need to find the right fit, or if you are up to the task - start your own RIA. Need an assist - email me.

For more information visit Valuations to Surge After Banyan Deal?


The attorneys at Sallah Astarita & Cox include veteran securities employment lawyers, inhouse counsel and outside counsel to wirehouses and small shops. We have decades of experience in representation of securities professionals in their employment matters, including promissory note litigation, restrictive covenants, negotiations of new deals, and employment injunction proceedings, nationwide. For more information call 212-509-6544 or send an email.