Like Their Investor Clients, Advisors Looking To Do Transactions Are Rushing To Close By The End Of The Year When Tax Breaks Expire Hot
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Even greater pressure is on since it takes 45 days for clients to consent but if a deal is already in the queue, it’s being pushed to close by the deadline.
Even advisors considering the sale of their firms over the next two to three years are being advised to start the process immediately to avoid capital gains and other taxes that could come into play gradually over that time period.
Traditional advice has been to not do deals for tax reasons. But just as this is a different environment for investors, it is also a changing landscape for advisor businesses.
Two mergers of large RIAs made headlines this month, one an all-cash deal and the other not disclosing details of the transaction. One firm was able to sell within five years of leaving a major wirehouse.
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