AmeriFlex cuts out matchmakers with new advisor transition marketplace

The AmeriFlex Group is looking to transform the business of selling advisory practices with a new dedicated marketplace.

The financial advisor-owned hybrid RIA has unveiled the Advisor Transition Network, a new national platform designed to connect buyers and sellers of financial advisory practices. By connecting those parties directly, the platform aims to simplify the sale of businesses while reducing transaction costs.

In an announcement Tuesday, the firm said its new platform seeks to cut out brokers, who typically take a cut of the sale price in exchange for their matchmaking services.

While the value that represents in terms of time and effort saved is debatable, Thomas Goodson, founder and CEO of the AmeriFlex Group, argues cutting out the middleman can make sense for a significant population of entrepreneurial advisors.

“In an industry often dominated by brokers who charge 5-10 percent in sales fees, ATN stands apart with its broker-free model, designed to maximize value for both buyers and sellers,” said Goodson. "Similar to the Uber model, we remove the middleman — in this case, the broker — from the equation."

The initiative is structured around key priorities for financial advisors looking to sell their practices, including client well-being, staff retention, fair pricing, and exit timelines that can be changed to suit the seller's needs.

The pros of letting buyers and sellers hash deals out without getting an external party involved can also go beyond financial benefits, according to Hannah Buschbom, chief transitional wealth planner at the AmeriFlex Group and leader of the ATN project.

“By allowing sellers and buyers the chance to work directly, we eliminate conflicts of interest from outside parties,” she said, arguing that limiting negotiations to the "truly vested parties [is] a way to ensure the best possible outcomes for all involved."

AmeriFlex's ATN joins its other advisor transition solutions, which it's offered on a smaller scale for several years. That includes its SuccessionFlex support program, which has helped fuel its journey of growth since launching in 2019.

Last month, the firm announced it had crossed the $13 billion AUM mark, with a network of more than 200 pillar partner advisors.

“We have helped many advisors start and complete the transition process of a practice...with our proprietary programs disbursing millions of dollars to advisors,” said Jesse Kurrasch, COO at AmeriFlex.