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SOURCE Succession Link
SAN DIEGO, Oct. 29, 2013 /PRNewswire/ -- Succession Link, a company that provides an online marketplace for buying and selling financial advisory practices, is pleased to announce the formation of a strategic alliance with TD Ameritrade Institutional.
According to Scott Collins, Director, Hybrid and Advisor Transitions, TD Ameritrade Institutional, "We see this as an excellent way for advisors to add scale and build their practices. And, with the average age of advisors being in the mid-50s, it also provides a great opportunity for those who want to retire from the business and sell their practices."
More and more advisors are trying to grow their businesses through acquisitions. Often, they find it to be the quickest way to invest in new capabilities and to add talented professionals. However, Collins says, it is often difficult to find the right firm to purchase.
The Succession Link platform offers a simple solution to that problem. After registering on the website (www.successionlink.com), advisors can peruse a listing of firms that are available for purchase. Initially, the selling advisors' identities are kept confidential. Once acquiring advisors finds firms that seem to be a good fit for them, and if they meet the seller's requirements as potential buyers, Succession Link will provide them with personal introductions to the selling firm.
Although TD Ameritrade currently has an internal program for buying and selling practices, Collins feels the newly formed alliance with Succession Link is a great way to expand the options available. "It's a great way for advisors on our platform to connect with firms they wouldn't otherwise have access to," he says.
Phillip Flakes, co-founder and managing partner of Succession Link, says his firm is excited about the strategic partnership with TD Ameritrade. "It shows that they are not only supportive of their RIAs' efforts to grow their practices through acquisition, but they are also willing to partner with platforms to make it happen," he says.
About Succession Link
Succession Link provides a platform for financial advisors who want to buy or sell practices. The firm does not charge transactional fees, listing fees or membership fees to sellers, and for buyers just a nominal subscription fee is required. It also provides advisors with access to resources that aide in the transaction process. Succession Link was founded by a group of financial services professionals who have spent their careers working with financial advisors and industry leaders.
About TD Ameritrade Institutional
TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to over 4,500 fee-based, independent registered investment advisors (RIAs) and their clients. Our advanced technology platform, coupled with personal support from our dedicated service teams, allows investment advisors to run their practices more efficiently and effectively while optimizing time with clients. TD Ameritrade Institutional is a division of TD Ameritrade, Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation (NYSE:AMTD).
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