Name: 3 Things Buyers of RIAs Should Do Ahead of Any Deal
Uploaded: 2026-05-26T17:21:00Z
Duration: 2 min 6 s
Description: Raise capital, be prepared for onboarding, and have a dedicated team of experienced investment bankers in place, advises Shirl Penney, the CEO of Dynasty Financial Partners.

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RIAs that are looking to sell should start the process early, and ideally when the business is thriving, to maximize leverage and options, says Shirl Penney, the CEO of Dynasty Financial Partners.

https://m.wsj.net/video/20260526/d766a2a1-3884-4be6-9190-7a76f5d09f0e/1/hls/manifest-hd-wifi.m3u8

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https://m.wsj.net/video/20260526/6306bad1-ec7d-4a82-a855-871a2a8af24a/1/hls/manifest-hd-wifi.m3u8

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Raise capital, be prepared for onboarding, and have a dedicated team of experienced investment bankers in place, advises Shirl Penney, the CEO of Dynasty Financial Partners.

https://m.wsj.net/video/20260526/dced3678-98a2-4e00-9486-3aa9f461ab0e/1/hls/manifest-hd-wifi.m3u8

3 Things Buyers of RIAs Should Do Ahead of Any Deal

The third thing I would suggest is to make sure... And this one seems obvious, but oftentimes advisors don't do it. Make sure that you have your capital in place in advance. We've seen a number of deals fall through where the momentum and the flywheel on a deal is really good. We come to agreement, and then the advisor has to go get the capital. And, you know, the best time to raise capital is when you don't have to. So make sure you have it lined up and ready in advance so that the flywheel doesn't slow and you're able to progress and close the deal. Be M&A-ready from the standpoint of onboarding. Oftentimes there's a great celebration after a deal is signed, and that's great. We like to say celebrate for about five minutes because then the real work begins. And the real work is, you know, making sure that you have seamless onboarding in transition of that new team that's joining you, and that's making sure that, you know, whether they're changing custodians or operating systems, technology, certain products they need, maybe on the lending or asset management side. All of those things need to be mapped in advance to make sure that, you know, they're able to transition as quickly as possible and not to disrupt any client service for the end clients. The last item is to get covered by investment bankers. And I think that a lot of advisors, that's a new concept to them, and there now are a whole series of investment banks. Dynasty certainly has one, and Greg, I think you know we were number one in the league tables last year in terms of number of transactions in the REA space. But you get covered by a banker, you're gonna get color on, you know, what's going on in terms of structure, pricing, where more advisors are coming from. So whether you're on the buy side or the sell side candidly, you're gonna want to be covered by someone who does this all the time, whether it's an investment banker, lawyers, accountants, you know, surrounding yourself with a great team will put you in position to be successful.