KeatsConnelly, a Phoenix-based wealth management firm with more than $225 million under advisement, that assists Canadians and Americans in realizing their dreams of a cross-border lifestyle, is pleased to announce its plans to transition ownership of the firm to a handful of employees gradually over a 10-year period. The deal will allow next-generation employees to take out loans from Fiduciary Network LLC of Dallas to purchase equity from the business’ principals, Bob Keats and Dale Walters, as they approach retirement in the next decade.
“As Bob and I began looking into succession plans, we were approached by a number of banks and various business roll-up firms proposing merger and acquisition deals,” said Walters, CEO of Keats, Connelly and Associates. “However, none of these deals ever spelled out how they would benefit our employees or our clients. With this model in place, some of our current employees will gradually become the new owners, and there will be no affect on our clients or customer service. It is a win-win situation and a major morale booster, especially in this economy.”
Fiduciary Network, which debuted in mid-2007, has already brokered more than half a dozen deals like this, and has plans for more before the close of the year.
KeatsConnelly, a wealth management firm with offices in Arizona, Florida and Michigan, that assists Canadians and Americans in realizing their dreams of a cross-border lifestyle. The firm’s fee-only compensation model enables the company to maintain its philosophy of promoting clients’ best interests, at all times, while avoiding any potential conflict of interest with commissions. For more information on KeatsConnelly, please visit www.keatsconnelly.com.
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