Navigating Client Retention in Advisory Acquisitions

Jaime Benedetti is the Managing Principal of Benedetti, Gucer, and Associates and BEAM Wealth Advisors, hybrid advisory firms based out of Georgia and Louisiana that oversee a total of $1.2-billion in assets under management for approximately 900 households. Jaime's firm has uniquely expanded to over $1 billion in AUM over the last 20 years, largely through six strategic acquisitions of mixed fee-and-commission practices from retiring local advisors, which he successfully converted into ongoing, recurring revenue financial planning clients - an approach that has not only fueled growth but also streamlined the firm’s revenue model into a more predictable and sustainable framework.

Listen in as Jaime shares how he has skillfully managed the acquisition of firms with assets ranging from under $10 million to nearly $500 million, evolving from using personal funding sources to securing bank-financed loans that cover the full purchase price. He explains his strategic approach to converting acquired firms from commission-based to fee-based models, details his method for identifying potential acquisition targets through a combination of recruiters, marketplaces, and networking, and shares the importance of taking time to integrate new acquisitions thoroughly, which has not only retained clients but also attracted sellers who prioritize the welfare of their clients post-acquisition.

For show notes and more visit: https://www.kitces.com/397