The Future of Financial Advisory Practices With Scott DiGiammarino

The discussion centers on valuing and selling financial advisory practices in a changing market. Scott DiGiammarino from JPTD Partners, who assesses practices for potential acquisition, shares insights on what makes a practice "sellable." A key factor is organic growth, with double-digit growth rates making a practice highly desirable. DiGiammarino highlights that buyers look for practices run like businesses, with established systems and infrastructure, not just as a lifestyle for the advisor. He also points out that many advisors are selling now, even those in their 40s, to capitalize on high multiples, tax advantages, and to offload operational burdens, freeing them to focus on client relationships or other ventures. The conversation also explores the increasing importance of having a clear succession plan and the benefits of joining larger firms, such as access to Schwab and Fidelity referral programs.