Selling Your Business – Who Do You Need on Your Team: Part 2 – Financial Advisor

Transaction Talk welcomes you to the second episode of a four-part series that details what business owners need to know about selling their businesses. Your hosts Jennifer and Eric interview the Managing Partner of Boston Partners Wealth Management, James Connors, to discuss the important role a financial advisor plays in the sale of a business. They break down when you need a financial advisor, how they help business owners confidently know their numbers, and so much more.

 

Key Points

[2:45] Why is it so important to have a financial advisor on your team?

[4:35] What are some of the common reasons why a business owner wants to sell their business?

[8:10] How does James walk his clients through an exit plan and/or strategy?

[9:40] Selling a business after being a part of it for so long is a very scary thing, but by having the numbers by your side, you become a bit more confident in the process.

[13:10] What should somebody look for in a financial advisor?

[16:35] The communication style of the financial advisor is very important. Do you understand what they're saying?

[17:00] You should always ask your financial advisor's philosophy on risk.

[18:10] What happens if you have to switch financial advisors midway through a deal?

[22:30] It's important to talk to your financial advisor before you begin the sale process.

[24:05] What makes James different from other financial advisors?

[29:05] James shares a play-by-play of how a typical business sale goes down.

 

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