Most financial advisors say they have a contingency plan. Far fewer have one in writing. In this episode of the SRG Exchange, Julia Sexton is joined by David Grau Jr., Parker Finot, Kristen Grau, and Ryan Grau to talk through what happens to your practice if you die, become disabled, or can't serve your clients tomorrow.

The panel explains how contingency planning differs from succession planning, compares one-way, reciprocal, and retainer agreements, and shares real stories of what goes wrong when a plan is missing or out of date. They also cover how to set a value someone can execute quickly, why a stated multiple tied to a recent valuation often works better than a valuation at the time of the event, and how to structure the sale for capital gains treatment.

Learn more about contingency planning: https://www.successionresource.com/contingency-planning/

Every advisory firm acquisition carries risk. The question is not how to eliminate it -- it's how to account for it so the deal still gets done.

In this solo episode of The Fine Print, David Grau Jr. breaks down the tools buyers and sellers use to structure deals that acknowledge risk while still getting them done -- from clawback clauses and earn-outs to stretch notes and extended amortization.

Topics covered:

• Why higher prices mean buyers carry more risk -- and what to do about it
• The difference between external acquisition risk (client attrition) and internal deal risk (profit erosion)
• How PE-backed aggregators structure deals to justify premium prices while protecting their downside
• Clawback and retention clauses: what to measure, when, and what target to set
• Revenue vs. AUM vs. client headcount as retention benchmarks -- and when each works against you
• The stretch note: tying internal buyer payments to profit distributions so the deal cannot structurally fail
• Extended amortization and other creative financing tools now available from industry lenders
• Why the goal is not a win-win -- it is both parties walking away equally unhappy

Private equity is no longer just for billion-dollar firms. PE-backed aggregators are moving downstream, and advisors with $150M to $500M in AUM are getting unsolicited offers. But are these deals as good as the headlines suggest?

In this episode of The Fine Print, David Grau Jr. and Kristen Grau break down what advisors need to know before entertaining a PE-backed offer -- from understanding deal structure to knowing whether your firm is actually the right fit.

Topics covered:

• The difference between direct PE investment and PE-backed aggregators

• Why the definition of a "seller" is shifting to advisors aged 50 to 70

• How stay-on requirements and growth targets change the deal calculus

• What financial normalization means -- and why it can shrink your effective multiple

• The recurring vs. non-recurring revenue debate in PE negotiations

• How to get your P&L in order before going to market

• Why time kills deals and what to do when an offer lands on your desk

• Best price vs. best terms: you rarely get both