From valuing your practice to helping you set up a succession plan, our team has the expertise to ensure you’re on the right track to accomplish your goals as a business owner.
“I have found Jambalaya Group to be an important resource and successful partner in analysis efforts, and this was very beneficial when we recently purchased a practice.”
We offer insight into your P & L and Balance Sheet to improve your business efficiency and build your equity more effectively (Cost $750 - $1,500+)
Business planning is a process the Jambalaya Group is passionate about and encourages all business owners to conduct at least on an annual basis (Cost $1,750+)
While goal-setting is a key segment of business planning, it is also critical to look at the full picture of the business.
The plan itself is a written document that describes in detail how a business is going to achieve its goals. It also lays out a written plan from a marketing, financial and operational viewpoint. The plan itself can be used for investment purposes, communication, recruiting, and other internal teamwork.
We have designed a document template which includes a number of questions and boilerplate sections that can be used in guiding the conversation over multiple sessions during the plan development. It is intended to be a document that incorporates growth projections and will be enhanced and/or revised throughout the year. The expectation is that as the business changes, the document will be updated so that it remains current and useful.
Succession Planning - Continuity / Death & Disability Planning
As an owner of a financial practice do you have a succession plan in place? Do you know what will happen to your business if the unexpected were to occur? Will the business endure? Who will lead your team? Who will service your clients? Will your family/estate be fairly compensated for your business asset?
The answers to these questions may differ based on the stage of your career. Whether you are a solo practitioner or an owner in an ensemble practice, we can help you through the process of determining the level of succession plan that is appropriate for you. We will work with you to provide education on various attributes of a buy/sell and or cross purchase agreement. Then introduce you to an attorney knowledgeable in financial services to ensure your wishes are thoroughly documented.
At Jambalaya Group, we offer a valuation service to help financial advisors value their practice (Cost $850+)
Understanding the value of your practice can be important for numerous reasons including:
We utilize a modified cash flow approach that establishes a value based on the recurring revenue of the business and ability to generate income for the owners.
Revenue Factors
Recurring Revenue, Financial Planning Fees, Net Flows & Product Mix
Profit & Loss Factors
Gross Revenue, Operating Expenses & Owner Compensation
Practice Factors
Staffing positions documented, Investment Process, Business Plan, CRM Established, Compliance History, Percent of clients over 65, New Client Growth, Client Segmentation & Market Demand
1. Revenue Factors
Recurring Revenue, Financial Planning Fees, Net Flows & Product Mix
2. Profit & Loss Factors
Gross Revenue, Operating Expenses & Owner Compensation
3. Practice Factors
Staffing positions documented, Investment Process, Business Plan, CRM Established, Compliance History, Percent of clients over 65, New Client Growth, Client Segmentation & Market Demand
Our process includes the following:
Data gathering to develop practice valuation
A virtual discussion to verify data entry and discuss results
We can help you assess your businesses situation and educate you on ways to address common business structure questions such as: establishing an entity, merging your practice with another or having another advisor affiliate under your brand
During this process, we will assess your situation, educate you on available options and support you through the process of merging your practice with another. There are a number of steps we are prepared to help you execute:
Single Owner Entity (Cost $2,000+)
Multi Owner Entity (Cost $5,000+)
During this process, we will help you assess if the use of an entity structure is appropriate for your business. If we determine it is, we can help support you through all the associated steps for establishing a successful structure.
Specifically, we will:
There are several steps we are prepared to help you execute:
The Jambalaya Group takes a partnership approach seeking to work with both the seller(s) and the buyer(s) to facilitate a fair deal and a smooth transition
If you are looking to sell your practice and not yet identified a buyer, we will follow these high-level steps:
If you have already identified a buyer, we will follow these high-level steps:
If you are seeking help executing the Ameriprise transition paperwork process, we can help manage the following high-level steps: