In response to the tremendous growth and success of Pensionmark Retirement Group’s Advisor Support Program, the aging population of advisors in the marketplace, and the increased interest by advisors in transition strategies, Pensionmark has formalized its practice acquisition model.
The Practice Acquisition Group addresses the needs of retirement-focused advisors who are interested in selling all or a portion of their practice today or in creating a formal intention to buy at a later predefined target date and price.
“In over 25 years in this industry, I have never seen such an interest by advisors to implement transition strategies which was the driving force behind us creating this solution,” said Troy Hammond, Pensionmark’s president and CEO.
In addition to practice acquisitions and letters of intent, PAG has also defined strategies for business succession planning, and partial buyouts, where an advisor may want to just transition the retirement or other portion of their practice.
Shayan Enrico, Pensionmark’s CFO, comments, “As we approach the 2,000 plan mark, we have a unique and distinct competitive advantage in acquiring practices focused on corporate retirement plan services. Because of our scale which creates tremendous service efficiencies, we can offer advisors high multiples on their practice value and create seamless client transitions.”
— Kristine Miller is the marketing director for Pensionmark Retirement Group.