To provide financial representatives with assistance in the valuation
John Hancock Financial Network (JHFN) has introduced ‘Build4Success’, an equity and succession platform to provide its financial representatives with assistance in the valuation, growth and sale of their practices.
Build4Success platform offers comprehensive equity and succession resources, access to a new investment advisory and insurance-based third-party valuation model, planning tools including a step-by-step guide for determining, protecting, growing, and in realizing a businesses value as well as assistance with the financing of transactions.
The platform provides a framework for addressing the four stages of equity and succession management such as determine your business value, protect your business value, grow your business, and realize your business value. These stages can be approached in consecutive order, or as needed, said the company.
JHFN approached FP Transitions, a provider of equity management, valuation and succession planning services, to develop new valuation methodology which considers both investment advisory and insurance-based financial services practices. This new valuation model and support for the transition of a business will be provided to JHFN financial reps through a preferred relationship with FP Transitions.
Brian Heapps, executive vice president of sales and business development at JHFN, said: “When fully adopted, equity and succession management – an iterative, career-long process – improves the quality and length of service provided to clients while increasing business value for practice owners. While equity and succession programs aren’t new, and the methodology for valuing financial advisory practices is widely accepted, what has been missing in our industry – and what we wanted to offer to our reps through Build4Success – is a model for valuing both the investment advisory and the insurance side of a rep’s book of business.”
Brad Bueermann, principal at FP Transitions, said: “Developing a rigorous valuation model for insurance-based business is quite complex. Partnering FP Transition’s succession expertise with JHFN’s insurance knowledge and data has led to what we believe will become the standard.”