Time Frame: We consider an Acquisition to have a 6 month or less transition. We do require at minimum 3 months of joint work. During that time, we would require either face to face or conference calls with your top 50 clients, to ensure a warm handoff of the book of business.

Data Base Requirements: We require all transitions that we are working with to have an electronic CRM. Our preferred CRM is Redtail, but we can work with others if you have them. If you do not have an electronic CRM, we can help you build your database. We feel that having an electronic CRM allows us to properly engage and track your clients effectively.

Communication to Clients: In an Acquisition, we require letters/emails to go out to the entire book of business within 30 days of signing the agreement. That letter will generally outline your intention to exit over a specified time frame. We will handle the entire letter process, from printing, to mailing, and cost associated with it. We have templates for the letter, or you can write it yourself. After the letter is sent, we would then start having the face to face or conference calls with your top 50 clients. At the end of your transition time frame, we will have one last letter sent out confirming your departure from the business. 

Initial Valuation: Depending upon the make-up and volume of your book of business, we would start the valuation of your practice at a 1.5 multiple of recurring income and adjust positively/negatively from there. Due to the hastened nature of an Acquisition, we have to take retention into consideration, and therefore the starting place for valuation is lower than the other transition options. Again, this is just the starting place and we do take other factors into consideration that will be discussed once we both determine this is a good fit for our firms. The payout of this Transition is typically over a 2-year period to help mitigate your tax implications.