Pensionmark Introduces Practice Acquisition Group

The newly launched Pensionmark Practice Acquisition Group will help retirement advisory firm owners prepare for and execute the sale of all or part of their practice.

Pensionmark Retirement Group says it is launching the new acquisition program as a complement to its existing adviser support programs—and in response to the increasing average age of advisers serving the retirement planning market. Pensionmark says it is experiencing record demand for firm ownership transition strategies, another factor leading to the current formalization of the firm’s practice acquisition model (see “Study Warns of Succession Challenges”).

The Practice Acquisition Group (PAG) addresses the needs of retirement-focused advisers who are interested in selling their practice today, the firm explains, as well as those advisers interested in creating a future sales plan designed to achieve a predefined target date and price.

In addition to executing practice acquisitions and developing letters of intent, PAG also offers strategies for business succession planning, as well as strategies for achieving a partial buyout, wherein an adviser transitions ownership of only the retirement portion of their practice.

Shayan Enrico, Pensionmark’s CFO, comments, “As we approach the 2,000-plan mark, we have a unique and distinct competitive advantage in acquiring practices focused on corporate retirement plan services. Because of our scale, which creates tremendous service efficiencies, we can offer advisers high multiples on their practice value and create seamless client transitions.”

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