Defining Your Why Ahead Of Selling Your Practice

You’ve put a lot of time and effort into building your practice. So, when the time comes to sell, it’s essential to approach the process with a clear understanding of your motivations and goals.

Before putting your business up for sale, it’s important to define the “why” behind your decision. What are your reasons for selling? What do you hope to achieve by selling your business? It’s crucial to take the time to think through these questions and write down your answers.

Defining your “why” can provide the motivation and clarity needed to move forward. It can also help you communicate your motivations to prospective buyers who will want to know why you are selling before committing to the buying and selling process.

  • Where do I see myself in 5-10 years?
  • Looking back what would make me say that was a successful transaction.
  • Have a plan in place (or in the works) for proceeds – think how you would advise a client on the sale of their business.
  • Ask yourself if your assumptions on value are based on facts/data (a certified practice valuation is the right tool for providing clarity here).

It’s important to note that defining your “why” is not a one-time task. Continuously reassessing your reasons for selling can help ensure that you stay focused and aligned with your long-term goals.

Whether you are considering a sale or looking to grow your practice for the future, a certified practice valuation helps you navigate whatever lays ahead by providing you with a solid understanding of where your business is at right now – your strengths, gaps, and opportunities.

Curious about a move?
Secure multiple offers now by completing the form below.

Share this article

Email
Twitter
LinkedIn
Author picture

Curious about switching broker dealers? Secure your 2 best offers all while remaining 100% anonymous.

Ready to start? Click here.

Leave a Reply

Secure Multiple Offers All While Remaining 100% Anonymous

CONTACT US

It’s one of the most important—and personal—questions a financial advisor can ask. Whether it’s frustrations with admin fees, limited platform flexibility, or just a gut feeling that you’ve outgrown your current firm, the decision to move shouldn’t be rushed. The right time to leave isn’t just about market timing—it’s about life timing.

If you’re weighing your options, we recommend this quick read: The Best Time for a Move—a blog and podcast episode that walks through key signals it may be time to explore a transition.

There’s no one-size-fits-all answer. Going independent offers more control, higher payouts, and brand autonomy—but with added responsibilities. Wirehouses provide built-in infrastructure, brand recognition, and turnkey support—but often come with more restrictions and fees.

The real question is: Which model makes the most sense for your business goals and lifestyle?

To make a confident decision, you need to understand the economics behind both paths. Start by securing transition offers from top firms—independent and wirehouse—so you can compare side-by-side.

Get Your Offers in Hand

Our services are 100% free to financial advisors. We don’t charge you a dime. If you decide to make a move, the new firm pays us a finder’s fee—similar to a recruiter. But unlike recruiters, we’re not tied to any one firm, so we work to find your best fit, not theirs.

Want the full breakdown? Check out our blog post: How We Get Paid

© 2024 3xEquity, LLC. All rights reserved

Transition packages from top regional and national broker-dealers like LPL, Ameriprise, Wells Fargo, RBC, Cetera, Dynasty, UBS, and more.