Financial Advisor Books

This is a test of the impact of linking from Lark to FindBob.

Financial advisor books of business are uniquely positioned assets for the young, ambitious financial professional to acquire , either all or in part. Financial advisor books typically contain 100 to 1,000 “clients” with 1 to 3 “accounts” per client. Such clients typically require at least 3 touch points per year from their financial advisor, including incoming and outgoing communications, plus another several hours of portfolio support, easily adding up to the 2,250 hours per year that constitute the typical workweek.

As a result, many financial advisors, whose average age is now close to 60, are not providing the same level of service. The books of senior / established financial advisors are thus assets that the young and ambitious financial professional should pursue, either by acquiring the financial advisor’s book of clients or by striking a ‘transition’ or ‘teaming’ deal with them.

In the former case, an acquisition of the advisor’s book is not easy to structure. Nor is a ‘teaming’ deal easy (an acquisition over time, starting with client-sharing); however, thousands of both such deals are done regularly on the FindBob.io (Bob = Book of business) platform, and the tools are available to you to make it easy. Much as a real estate agent makes home buying easy for first-time buyers (albeit for a very hefty fee), FindBob’s mission is to make book-buying and teaming easy for ambitious financial advisors.

Although the rewards far out weight the challenges of taking over a large and profitable financial advisor book of business, the transition market is also difficult to navigate:

§  The financial advisor book of business market is illiquid and lacks transparency: Specifically, there is no perfect way of discovering the ideal book of business for your profile, location, and goals, and there is no perfect way to value it or transition the relationships (FindBob uses next generation software and machine-learning to collect hundreds of thousands of data points across tens of thousands of financial advisors and financial advisor books of business to match the right advisors with the highest likelihood of smooth, profitable acquisitions or teaming.)

§  The financial advisor book of business market is not easily understood by banks and other financial partners who most young, ambitious financial advisors will need to help finance the acquisition (FindBob adds machine-learning and matching technology plus industry-leading agreements to connect advisors with the right financing partner, all through a web-based platform. Partners have been pre-screened for their deep understanding of and appreciation for the value of a financial advisor book of business, and are able to confidently value the asset for collateral purposes in ways that traditional banks cannot. These partners include the likes of Manulife Financial / John Hancock and others who deeply understand and appreciate the financial advisor book of business market).