Ep 246: Finding The Right (Valuation) Formula To Give Everyone Buy-In For An Employee-Owned Advisory Firm with Jessica Hovis Smith

Financial Advisor Success

Jessica Hovis Smith is the President of Longview Financial Advisors, an RIA based out of Alabama that oversees $194 million for 199 clients. Jessica oversaw a succession plan that brought two lifestyle practices into one employee-owned, multi-generational firm, navigating multiple transitions along the way to eventually arrive at a valuation that was fair for everyone.

Listen in as Jessica shares her own personal journey to President of Longview, what it was like overseeing a succession plan that merged two lifestyle practices, and how they structured their purchase to ensure that new owners stood the best chance of staying with the firm throughout their careers. We also discuss the multiple transitions that happened along the way to arriving at a valuation that the founders and internal buyers were happy with, as well as why the actual process of arriving at that valuation was the biggest contributing factor to getting everyone’s buy-in.

For show notes and more visit: https://www.kitces.com/246