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Table of Contents

• ↓ Practice management ideas you can implement yourself.
• ↓ One Week Left! Help Shape Our 2026 Advisor Productivity Research
• ↓ Taking Equity In An Acquiring Aggregator: Weighing The Growth Opportunities Against Valuation And Illiquidity Risks
• ↓ Weekend Reading For Financial Planners (September 19–20)
• ↓ Breaking Bad News To A Client About Prior Problematic Financial Decisions: Kitces & Carl 199
• ↓ Read More...
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"September 21, 2026 07:03 am 0 Comments CATEGORY: Practice Management"

"Although many advisors looking to sell their practices are ready to retire and cash in on the enterprise value they've spent their careers building, an increasing number of advisors are selling and staying, choosing to sell either because they believe they can grow faster by joining a larger firm with more capabilities or services, or simply because they want to offload many of the operational or compliance headaches that have taken up so much of their time when operating on their own. And in some cases, the seller is simply so upbeat on the potential of the buyer's continued growth that even though they plan to exit themselves, they want to roll over a portion of their equity into an acquirer for a period of years to have the potential for a second liquidity event (the proverbial "second bite at the apple"), ideally at the acquirer's higher valuation multiple. Taking equity can also be beneficial for advisors looking to defer a portion of the capital gains taxes associated with the sale of their practice (until the acquirer ultimately exits). Yet the reality is that trading an advisor's own equity for potentially illiquid and opaque equity in the acquirer's business presents a unique set of challenges that advisors must carefully weigh, as they can have significant economic consequences for the seller if not everything works out exactly as projected upfront."

Key Topics & Focus Areas for kitces.com:

Practice management ideas you can implement yourself.

One Week Left! Help Shape Our 2026 Advisor Productivity Research

Taking Equity In An Acquiring Aggregator: Weighing The Growth Opportunities Against Valuation And Illiquidity Risks

Weekend Reading For Financial Planners (September 19–20)

Breaking Bad News To A Client About Prior Problematic Financial Decisions: Kitces & Carl 199

Read More...