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How Advisors Can Work With Business Brokers

Jul 16, 2018

Today on the Confident Advisor Practice from the Horizon Advisor Network, host Bill Bush and Pete Bush of the Horizon Financial Group discuss with Cam Morton, a business broker who deals in acquisitions, sales, and mergers. They discuss what is involved for business owners to successfully exit their companies. 

 

Time Stamped Show Notes:

  • 00:56 – Cam Morton has worked on Wall Street and ran a publically-traded REIT (real estate investment trust) and sold after 10 years.
  • 01:15 – Exist planning and buying and selling businesses became Cam’s interest.
  • 01:45 – VR Business Brokers has about 70 locations around the globe.
  • 03:55 – There are roughly 10 trillion businesses owned by baby boomers.
  • 05:11 – People that help business owners exit their business include: financial advisors, lawyers, accountants, and insurance agents.
  • 09:25 – You are going to leave your business at some point.
  • 10:00 – How do you plan to leave your business?
  • 13:28 – Exit planner typically handle a broad amount of business types and risk types.
  • 16:02 – The Exit Planning Institute and OwnerReadiness.com are great resources for planners.

                     (225) 663-5999.

 

3 Key Points:

  1. 1. VR Business Brokers has about 70 locations around the globe.
  2. 90% of the people save 90% of their money in their retirement accounts, and this is where advisors go to service.
  1. VR Business Brokers works with financial advisors to help their clients figure out how to exit, what the company’s value is, what they can do to improve the company’s value, what is their life going to look like after they sells their company?

 

Tweetable Quotes:

-    “A lot of business brokers approach the world with, gee, when can I sell your asset? We (VR Business Brokers ) try to approach it by…how do we help you get the most out of selling your asset, when it’s time.” – Camm Morton.

-    “90% of the people save 90% of their money in their retirement accounts.” – Pete Bush.  

-    “The financial advisors tend to be very trusted by their clients. And there is a lot of value out there in companies that are going to have to trade hands as the baby boomers have to exit their business.”– Camm Morton.

 

Resources Mentioned: