Advisor kept 150, pruned rest
One advisor bought a 390‑client book and intentionally kept only the top 150 households, making the case that narrowing focus improves service and growth. The story reinforces the 'right‑client' thesis for practice scaling and deeper niche marketing. (theglobeandmail.com)
The seller initially sought three times recurring revenue for the book; the buyer agreed to pay 3.5 times and structured payment in instalments over 36 months with a 0.5% interest uplift. (europesays.com) The clients the buyer retained accounted for roughly 80% of the book’s assets under management and were concentrated in their mid-50s, largely facing retirement within a decade. (europesays.com) Clients who didn’t fit that retirement-focused profile were transferred to other advisors in the firm who focus on corporate planning, group insurance and health-insurance solutions. (europesays.com) The transaction closed in December 2022 after the buyer and seller first met at a local Advocis chapter meeting in 2016, and the buyer later merged his practice with Wealth Plan Atlantic in June 2024. (europesays.com) The advisor launched his own firm in 2018 and now reports a roster of about 225 clients, supported by two junior advisors, a para-planner and an administrative assistant shared with another advisor. (europesays.com) (theglobeandmail.com) The buyer calculated that revenue from the purchased segment nearly serviced the acquisition debt while revenue from his pre-existing clients covered the remaining financing gap. (europesays.com)
