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.
Media Inquiries:
Laura
Marvin
JConnelly
privateadvisorgroup@jconnelly.com
973 349 2959
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SOURCE Private Advisor Group