Episodes

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 ...

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 diff...

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 differenc...

Most advisory firm owners know they need to pay their people well. What's harder to figure out is whether they're paying them the right way; and in a market where the go-to compensation benchmarks have largely disappeared, even knowing how much to pay has become its own challenge. In this episode of The Fine Print, David Grau Jr. sits down with Julia Sexton, CVA, Director of Team Solutions at SRG, to unpack the full picture of compensation design for advisory firms. The conversation covers why ...

When you decide to sell your advisory business, you will be approached from every direction — aggregators, PE firms, broker dealers, and peers all ready to make an offer. The question isn't whether demand exists. It's whether you have the right team to make sure you're getting the most out of it. In this episode of The Fine Print, David Grau Jr., MBA is joined by Kristen Grau CPA, CVA, CEPA, Parker Finot, and Ryan Grau CVA, CBA to break down what seller advocacy really means, where self-negotiat...

RIA valuations are at record highs, private equity is reshaping deal structures, and internal succession is evolving faster than ever. In this episode of The Fine Print, David Grau Jr. breaks down the real M&A data from 2025 and maps out what financial advisors should expect for the rest of 2026. David digs into the latest revenue and EBITDA multiples, explains why the most profitable firms don't always command the highest valuations, and dissects the typical private equity deal structure: 40% ...

Most advisory firm owners think they're 80% done with a deal once they've found a buyer and shaken hands on a number. In reality, they may not even be in the first inning. In this episode of The SRG Exchange, SRG's consulting team and General Counsel pull back the curtain on what firm owners consistently get wrong about M&A, from timing and valuation methodology to entity structure and equity sharing strategy. The group covers when to bring in an outside team and what happens when you wait too...

Regulatory scrutiny is evolving, and RIAs involved in acquisitions or succession transitions are starting to see a new area of exam focus: how the SEC’s Marketing Rule endorsement provision may apply to certain client transition communications. In this episode of The Fine Print, SRG General Counsel Todd Fulks is joined by Christine Ayako Schleppegrell, Partner at Morgan Lewis and former SEC attorney, for a timely discussion on what firms are seeing in exams and deficiency letters, and why this ...

Employment agreements are often treated as a formality, until a key employee leaves, client relationships walk out the door, or a succession plan starts to unravel. In this episode of The SRG Exchange, SRG’s consulting team and General Counsel break down the real-world role of restrictive covenants in advisory firms, and why the biggest risk is often having no agreement in place at all. The group explores the difference between non-competes, non-solicits, and no-serve provisions, why enforceab...

Entity structure is not just paperwork. It shapes how your firm grows, shares ownership, and eventually transitions. In this episode of The SRG Exchange, SRG’s consulting team and general counsel break down what advisors need to know about entities and entity maintenance, and why firms often outgrow the structure they set up years ago. You’ll learn: How entity design affects internal succession and equity transfers Why S-corp rigidity can create hidden obstacles What ownership classes, voti...

What does a real contingency plan actually look like—and why are so many advisors still unprotected when something goes wrong? In this inaugural episode of The SRG Exchange, SRG’s consulting team sits down for a candid, unscripted conversation about one of the most overlooked areas in an advisor’s business: contingency planning. Pulling from real client experiences, the team breaks down what “good” looks like, what’s missing in most firms, and how to create a plan that truly protects clients, re...

How do top advisors win at both organic and inorganic growth? In this episode of The Fine Print, SRG President David Grau Jr. sits down with Jeff Concepcion, Founder & CEO of Stratos Wealth, to unpack practical strategies for building a sustainable advisory business. From turning referrals into repeatable growth systems to competing in today’s crowded M&A market, Jeff shares actionable insights on what it takes to scale, reinvest, and position your firm for long-term success.

In this episode of SRG's The Fine Print, host David Grau is joined by Saša Mirkovic from Inspire Network to explore the art of building self-leading teams. Saša shares his journey from financial advisor to a leader in developing teams that thrive independently. Discover the importance of transitioning from advisor to CEO, the concept of being a 'multiplier,' and the role of humility in leadership. Whether you're an advisor or a business owner, learn how to create a business that can exist withou...

In this episode of The Fine Print, David Grau Jr., President of Succession Resource Group, unpacks the critical—yet often overlooked—relationship between valuation and deal terms in today’s advisor M&A landscape. Building on previous discussions around private equity and industry aggregators, David dives into the real mechanics of how deals are financed, structured, and negotiated. From historical norms of “one-third cash, one-third note, one-third earnout” to today’s increasingly creative term...

David Grau Jr. discusses the increasing influence of private equity (PE) and industry aggregators on the valuations and consolidation trends within the Registered Investment Advisor (RIA) industry. He explores historical developments, the rise of aggregators, how their unique deal terms to boost the appearance of value is impacting advisors, as well as the long-term implications for succession planning. Grau highlights how PE's focus on high multiples and creative deal terms is shifting advisor ...

In this episode, David discusses strategies to keep top talent in the financial advisory industry and protect client relationships. He emphasizes the importance of creating a happy, healthy work culture and providing career tracks and mentorship opportunities. David also explores the use of equity-sharing programs to incentivize employees and build a sense of ownership. On the topic of protecting client relationships, he suggests focusing on the client experience and institutionalizing relations...

In this episode, David Grau discusses the importance of death and disability planning for independent advisors and small business owners. He emphasizes the need to separate succession planning from contingency planning and suggests dividing and conquering these two subjects. Grau explains the different agreements and funding mechanisms that can be used in death and disability planning, including life insurance, promissory notes, and revenue sharing. He also highlights the key considerations in s...

Finding talent can be hard. But you don’t always need to find it, with the right approach you can develop it within anybody. This episode is a continuation of David Grau Jr.’s conversation with Ray Sclafani, Founder and CEO at ClientWise, LLC. Join them as they’re dedicated to uncovering the secrets behind flourishing financial advisory firms as they explore the synergy of digital marketing, the power of client referrals, and the benefits of strategic partnerships. Ray’s knowledge in talent dev...

Finding talent can be hard. But you don’t always need to find it, with the right approach you can develop it within anybody. This episode is the first part of David Grau Jr.’s conversation with Ray Sclafani, Founder and CEO at ClientWise, LLC. Join them as they’re dedicated to uncovering the secrets behind flourishing financial advisory firms as they explore the synergy of digital marketing, the power of client referrals, and the benefits of strategic partnerships. Ray’s knowledge in talent dev...

Do you ever look at some of the industry’s most successful advisory firms and wonder, “Where are they finding top talent?” After looking under the hood, guess what we found? They don’t find top talent. They build it! Get ready to adapt to a new paradigm of talent management, as David Grau Jr. encourages listeners to rethink how they mentor, train, and compensate the next generation of talent. You will discover a systematic and scalable approach to cultivating talent and building a seamless suc...

Many Advisors dedicate their lives to building their companies. But what happens after they exit their business? The transition can be fraught with unexpected emotional challenges that are often overlooked! Get ready to address the “founder’s exit paradox” with David Grau Jr. and guest Jerome Myers, founder of DreamCatchers and The Myers Development Group. They shed light on the difficulties that come with stepping away from a business you’ve poured your heart into and how to navigate the jour...

Whether it’s M&A or succession planning, a critical challenge advisors face is navigating the lending process for equity purchases. It’s not just about the access to capital, but also the intricacies of the deal structure! Recognizing this struggle, David Grau Jr. sits down with Dustin Mangone and Aaron Racino from PPC Loan to simplify advisor financing. They highlight the current state of M&A and share insights into securing loans and finding a deal that aligns with your business goals. Key ...

Ever wondered how top financial firms plan for the future? Discover the secrets of scaling your financial advisory business in this engaging episode of The Fine Print. Host David Grau Jr. and guest expert Caleb Brown, co-founder of New Planner Recruiting, dive into effective succession planning strategies for independent advisors. Key Discussion Points: The pitfalls of succession planning Understanding the evolving roles in advisory firms Navigating the challenges of recruitment and compens...

Ever wondered how CRM can redefine your advisory firm? Join us on The Fine Print, where Rick Williamson, Director of Brand Experience at Redtail/Orion Advisor Technology, brings his dynamic personality and industry expertise to explore the transformative role of Customer Relationship Management (CRM) systems in enhancing advisory business value. Key Discussion Points: The Impact of CRM Systems: Explore how CRM systems can transform business efficiency, profitability, and client relationships ...