Broker referral and practice sales

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#1
Andrew  
Posts:
806
Joined:
21-Nov-2018 5:00pm
Location:
CA
Does anyone have a broker they can recommend in CA? What does the broker typically charge for the sale of a practice?
 

#2
Posts:
222
Joined:
23-Apr-2014 8:17pm
Location:
FL
I'm in FL and sold my practice 1/1/16. Accounting Practice Sales was the broker. They charged 10% of the sale price. They have various regional reps. I was very happy with mine
 

#3
Posts:
82
Joined:
1-May-2014 2:47pm
Location:
Southern California
Accounting & Tax Brokerage focuses on the western US. https://atbcal.com/

I can not say how effective they are, nor how costly, I have not used a broker (Have completed several deals directly with the seller). I am familiar with their existence only because the principle would speak at our local EA Chapter meetings for CE topics.

There may be interested buyers reading this board -- without getting too specific, what are you offering? What part of California?
 

#4
Andrew  
Posts:
806
Joined:
21-Nov-2018 5:00pm
Location:
CA
Someone I know is thinking about selling part of a practice. How does it work with giving client data to the new owner? Do clients have to sign disclosure forms?
 

#5
ATSMAN  
Posts:
2094
Joined:
31-May-2014 8:34pm
Location:
MA
I did this type of transaction twice and in both instances the previous accountant and I made a deal where the following process would be followed:

A letter from the previous owner was mailed by USPS and also e-mailed to his client introducing me with the following options:

A) The default option was that after 60 days their records would be transferred to me and then I will contact for the next steps.
B) If they did NOT want their records transferred they had 30 days to contact and make arrangements to get their records or copies. It was made clear that reasonable copying and mailing charges would apply.

Most of their clients chose option A. Never had any issue with any client who objected to records transfer but did not exercise that right within the 30 days.

BTW the seller ran this letter by his attorney and it was ok.
 


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