The independent brokerage arm of Wells Fargo & Company now offers its business owners a ‘comprehensive solution’
“Independent business owners regularly ask for guidance in understanding how to value their business,” said John Peluso, president of Wells Fargo Advisors Financial Network. “The Comprehensive Equity Management System is a comprehensive solution that will help business owners identify value of their advisory practice, plan for retirement and position their practice for continued growth.”
The new program expands the reach of Wells Fargo Advisors Financial Network ‘s annual succession planning efforts to all business owners by offering specific tools and resources to help determine and monitor the value of a business while providing support mechanisms designed to help build and stabilize practice value. For example, the “EquityBuilder” benchmarking guide, available as part of the program, will compare an owner’s advisory practice with other independent practices to assist with goal setting and business development.
Advisors who participate in CEMS for at least three consecutive years are expected to be able to realize 100% equity in their practice when retiring or transitioning their practice to another advisor through FP Transitions without listing, sales or transition support costs.
“This comprehensive equity management approach has been specifically designed for companies like Wells Fargo Advisors Financial Network with a network of very successful entrepreneurs who want to take charge of their equity and grow their businesses, faster and stronger than the competition, in an increasingly competitive industry and challenging economy,” says David Grau Sr., JD, of FP Transitions. “Today, in many cases, practice equity is the largest, most valuable asset advisors own. It is essential that advisors have the resources to build and one day realize the value they’ve built.”
About Wells Fargo Advisors Financial Network
For nearly a decade, Wells Fargo Advisors Financial Network (WFAFN), the independent brokerage arm of Wells Fargo & Co, has empowered financial advisors to become successful business owners. www.whywaitfinet.com.
With over $1 trillion in client assets as of December 31, 2009, Wells Fargo’s brokerage businesses comprise 15,000 full-service financial advisors and 6,300 licensed financial specialists. This vast network of advisors, one of the nation’s largest, serves clients through offices in all 50 states, the District of Columbia and in Latin America. Wells Fargo Advisors is the trade name used by two separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC (members SIPC). Statistics include other broker-dealers of Wells Fargo & Company. www.wellsfargoadvisors.com. Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC.
Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores, over 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.
About FP Transitions
FP Transitions, based in Portland, Oregon, is the nation’s leading provider of equity management, valuation, and succession planning services for the financial services industry, and operates the largest open market for buying and selling financial service practices in the U.S. Working in cooperation with broker-dealers, custodians, clearing firms, and insurance companies, FP Transitions provides its services to independent and captive financial advisors, registered reps, and insurance agents of all sizes.
As the creator of the open market listing system in 1999, FP Transitions has steadily broadened its service offerings to the point where it is now the leading provider of practice valuations and equity building tools in the industry. FP Transitions’ expertise also includes continuity planning, practice benchmarking, strategic consulting, performance coaching, succession planning, entity formation and maintenance, internal ownership track set up and management, and mergers and acquisitions www.fptransitions.com .