How Next-Gen Financial Advisors Are Raising Money to Buy Ownership Stakes Where They Work
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The good news for next-generation financial advisors is that valuations of registered investment advisor firms are at a record high. The bad news is that skyrocketing multiples have made buying equity in the firms they work for extremely difficult. “What’s happened with valuations precludes G2 employees just being able to pay out of pocket,” says DJ Hunt, a 48-year old advisor for Moisand Fitzgerald Tamayo in Melbourne, Fla., referring to second-generation staff.
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