SkyView Partners Launches Digital Marketplace for Independent Wealth Management M&A and Financing
Digital marketplace connects wealth managers interested in buying or selling over a secure platform in conjunction with access to bank financing
Oct 10, 2019, 09:00 ET
WAYZATA, Minn., Oct. 10, 2019 /PRNewswire/ -- SkyView Partners, a leading correspondent lender exclusively focused on empowering independent advisors, broker dealers, and RIAs to pursue mergers, acquisitions and succession plans, today announced the launch of their Advisory Practice Board of Exchange (APBOE). APBOE is a subscription-free turnkey solution for buying and selling wealth management practices in conjunction with access to bank financing via a secure and confidential platform.
"We sought to launch an online M&A experience for independent and registered investment advisors that would narrow the dislocation between the number of buyers and sellers coming to market in an efficient and confidential platform. Currently, we have approximately two buyers per every seller on APBOE," stated Scott Wetzel, JD, CEO of SkyView Partners.
APBOE has several features to attract prospective buyers, including clear seller search results, site participation anonymity maintained by only allowing verified sellers to view buyer profiles, and a platform to compete for seller listings. Additionally, to promote anonymity and productivity for sellers, APBOE requires that an M&A consultant is utilized for sell side representation.
"It's been our experience that 'for sale by owner' transactions commonly do not close, and, if successful, sellers experience significant heartburn. The assistance of an M&A consultant drastically increases the probability of closing and commonly increases net proceeds," stated Wetzel.
In conjunction with their M&A consultants, sellers can search prospective buyers based on their PurchasingPower™ score, which is a proprietary ranking methodology gauging buyer creditworthiness and preparedness to acquire a practice. A buyer's PurchasingPower score is derived from 31 data points verified by the APBOE staff. For buyers to compete, they need to develop a verified PurchasingPower score by completing a practice profile, in addition to providing substantiating documentation.
Initial APBOE market participants include several leading M&A consultants including ECHELON Partners, DeVoe & Company, Smart Concepts Group and Advisor Legacy who are providing consulting services to support buyers and sellers.
In 2018, SkyView initiated construction of an ecosystem of community and regional banks interested in funding loans from wealth management industry participants. SkyView has engaged New York-based investment banking firm Sandler O'Neill + Partners, L.P. as its financial advisor.
"From independent to registered investment advisors, APBOE is a platform for serious buyers and sellers looking to conduct M&A transactions and access bank financing," concluded Wetzel.
For more information on APBOE, please visit www.APBOE.com.
About SkyView Partners
SkyView Partners is a Wayzata, Minnesota-based correspondent lender dedicated exclusively to supporting the entrepreneurship of independent and registered investment advisors. SkyView utilizes its national network of progressive, well-capitalized lenders to provide financial advisors with increased choice, flexibility, efficiency, and competitive rates, terms and conditions for borrowers. Via two integrated digital marketplaces – APBOE and The Lender Marketplace – SkyView connects buyers and sellers from across the United States and provides access to a broad network of lenders in an efficient turnkey experience to search, select and finance practice M&A. For more information, visit www.SKYVIEW.com and www.APBOE.com.
SOURCE SkyView Partners
