Succession planning: providing support to smooth the exit transition
Selling a broker can be an emotional experience, especially if the founder has run the business for a long time. Rachel Gordon looks at the options available for those with little M&A knowledge seeking an exit.
There comes a time for every broker when retirement beckons. But before beingput out to pasture, there is a huge decision to be made – who will pick up the reins and take on the business, its people and clients.
If the business is a solid performer, then the owner’s retirement should be extremely comfortable. There are a number of buyers ranging from those with relatively modest aspirations to cash-rich consolidators determined to expand their empires.
But, for many brokers, it is not just
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