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X + Y = greater value

What will happen to your business when ?you lose your current clients and staff? ?Mark Tibergien reviews the inevitable future and how to engage with the next generation

11 November 2013

If I was buying a financial advisory firm, I would discount its value based on the number of clients and staff over the age of 55. Why? In my mind, the value of a business is based on its future prospects – and ageing clients and staff will have a diminishing impact on the firm’s future growth.

Many advisers have latched onto the concept that their practice’s value reflects the trailing 12 months of revenues, with a premium added for the amount of pain and suffering they have endured over their careers.

So to suggest that a firm’s value should be based on the future outlook may seem like heresy to sellers (while logical to buyers).

But is that far off from the way in which you make investment recommendations to your clients? Do you recommend a mutual fund or stock because of how it performed in the past? Or do you premise your recommendations on...

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