Buyers and Sellers: Times Have Changed

The landscape of the wealth management field is ever-changing, and the changes in the industry have affected the deals as well. In my latest installment of the Fueling Deals podcast, I spoke with Mindy Diamond, CEO and founder of Diamond Consultants, specializing in recruiting and placing financial advisors, on this subject.

Through Mindy’s work in the wealth management field, she has helped facilitate numerous deals between buyers and sellers. She is a true expert at identifying potential deals for her clients, and she is also excellent at identifying weak points when the deal partners aren’t a good match.

On this episode of Fueling Deals, Mindy and I talk about what differentiates a good deal from a bad one. Mindy shares her strategies for identifying when a buyer is ready to buy, and her thoughts on the ever-evolving financial advisor field. Listen to our conversation and learn how a facilitator like Mindy can simplify the sometimes confusing process of finding and closing a deal.

A Complicated Process in a Changing Field

The work Mindy does helps grease the wheels for deal partners within the financial advisor industry. She has worked with big firms like Merrill Lynch, as well as independent, boutique, and specialty firms. One of the major changes Mindy has identified in recent years is the industry’s move to toward independence.

Not only does this create more possibilities and avenues for deal-making, it has also served to complicate the process. There are many more things to consider when structuring a deal now than there were ten years ago. Finding the right partner is critical, but it can be a challenge with the buffet of options available.

Looking to the Heart of a Deal

One of the most important aspects of finding the right deal is self-awareness. The buyer needs to understand specifically what it is looking to get out of the deal, what needs can be met and what challenges can be addressed through acquisition. The buyer needs to also understand what differentiates it in the industry and makes it a more attractive proposition for the seller than its competitors.

It is also important to look at the bigger picture. A deal can have immediate benefits but sour over time. By looking past the instant gratification, you can get a better sense of how your deal will affect you in the long term. That long-term approach is an important aspect of the evaluation process, and an experienced consultant like Mindy can help you with that process.

Learn more about Finding the Right Deal by listening to my episode on Fueling Deals podcast.

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Corey Kupfer is an expert strategist, negotiator and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

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