David DeVoe is managing partner and founder of DeVoe & Co., a San Francisco-based financial services consulting firm specializing in business strategy, mergers and acquisitions, succession planning and valuations for RIAs.
Turmoil is a time for independent advisors to show why they're worth it.
Comprehensive valuation gives a picture of the present and helps build strategies for the future.
Interested in buying or selling a firm? David DeVoe's essential guide for advisers.
Comparables, such as multiples of revenue or cash flow, may not be most important because they could mean an oversimplified valuation.
When it comes to actual dealmaking, using multiples is a dangerous and irresponsible way to value RIAs.