Las Vegas-based hybrid RIA The AmeriFlex Group launched Advisor Transition Network (ATN), a platform connecting qualified buyers and sellers of financial advisory practices. The platform has a network of prepared buyers representing over 200 qualified advisors.
ATN “aims to create a frictionless, confidential marketplace where financial advisors can seamlessly transition their businesses without needing a broker,” according to a press release.
“In an industry often dominated by brokers who charge 5-10% in sales fees, ATN [is] designed to maximize value for both buyers and sellers, ensuring a smoother, more profitable transaction for all parties,” said Thomas Goodson, Founder and CEO of The AmeriFlex Group.
He continued, “Similar to the Uber model, we remove the middleman – in this case, the broker – from the equation. This streamlines the process and puts more money in the seller’s pocket.”
The advisor-designed program focuses on four priorities: ensuring the well-being of clients, staff retention, achieving a fair price for the practice, and offering a customized exit timeline that suits the seller’s needs.
Chief Transitional Wealth Planner Hannah Buschbom, who helped develop ATN, explained that by removing third parties, the buy and seller can “eliminate conflicts of interest.” The ATN “allows the truly vested parties a way to ensure the best possible outcomes for all involved,” she said.
ATN is one of The AmeriFlex Group’s proprietary advisor transition programs. In 2021, the firm launched SuccessionFlex, another transition program, which lets advisors authorize a succession and continuity agreement with an option to sell 30% to 40% of their current revenue stream to the firm.
Firm COO Jesse Kurrasch said, “We have helped many advisors start and complete the transition process of a practice, and in some cases purchased practices directly.”
He added, “We have offered this matchmaking service successfully on a smaller scale for several years and look forward to assisting a national group of advisors by rolling out the Advisor Transition Network.”
In May, WSR featured Goodson as Recruiter of the Month after AmeriFlex acquired The W Source, a professional platform facilitating women-to-women networking opportunities.
Michael Madden, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at mmadden@wealthsolutionsreport.com.
