Merger Appeal

Opiela, Nancy
November 2004
Journal of Financial Planning;Nov2004, Vol. 17 Issue 11, p44
Academic Journal
This article discusses the benefits of a merger between financial planning firms as well as factors to a successful merger. Many planners have embraced merger as the quickest way to better serve clients, make their business more competitive, and derive more profession and personal satisfaction. While many planner have unique motivations for reaching out to their colleagues, there are common themes. For many planners, the desire to serve clients with a wider ranger of services is tied to their desire to strengthen their own professional skills and enhance the quality of their life. Some planners are motivated by their desire to offer clients a more comprehensive approach to financial planning. Or some planners are just comfortable working in a larger firm. There are several elements crucial to building a merger. These are trust, integrity communication, regular client communication and keeping clients in the loop of the merger process. Another quality of many successfully merged firms is written policies and procedures. It is important that the planners develop their procedures manual themselves to better understand the process and to clarify client relationships. It is also important to streamline decision-making for the firm's operational issues.


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