Seller’s market for advisor books of business persists as many still put off retirement

Despite high borrowing costs and an aging cohort of advisors, the market for advisors’ books of business remains tilted in favour of sellers.

Brett Evans, a partner at Capital Markets Advisors LLC in Toronto, says wealth management firms focused on expansion are contributing to the seller’s market. Having a larger practice has become more important, Mr. Hartman says, as dealers download costs onto advisors. “The advisors need larger practices to retain profitability.”Jeff Gans, president and chief executive officer of Advisor Solutions by Purpose in Toronto, says financing has also become easier for advisors looking to purchase books of business.

Pierre Sauvé, director of originations at CWB Maxium Financial, says the market for financing a book or share acquisitions has increased rapidly since the company entered the market almost 10 years ago. “People always said there would be a great exodus of advisors, but many have passed retirement age and have stayed in the business,” Mr. Gans says.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Toronto condo market stalls as sellers, buyers face offThe city’s supply of condos recently stood 86 per cent higher than at this time last year, while sales tumbled about 25 per cent in the same period
La source: globebusiness - 🏆 31. / 66 Lire la suite »