How to Value, Buy, or Sell a Financial Advisory Practice

Mark C. Tibergien was a principal at Moss Adams LLP,the twelfth-largest accounting firm in the United States,where his responsibilities included management consulting, businessvaluations, and business owner succession. For the past five years,Accounting Today has recognized Tibergien as among the "100most influential" people in the accounting profession. In 2003,Financial Planning magazine recognized him as a"mover and shaker" in their annual review of industryprofessionals, and for the past two years, InvestmentAdvisor has recognized him as among the "25 most influential"in the financial-services industry. He is coauthor of PracticeMade Perfect: The Discipline of Business Management for FinancialAdvisers. Tibergien is now CEO of Pershing AdvisorSolutions.
Owen Dahl is a senior manager in the Valuation andLitigation Services group of Moss Adams LLP. He has providedcommercial litigation, damages, asset-allocation, and acquisitionconsulting services to small and large corporationsalike. Dahl specializes in issues relating to intellectualproperty and works with firms for which such issues arekey. He has more than fifteen years' experience in theinvestment-advisory industry. A native of Canada, Dahl is achartered financial analyst and a member of the CFA Institute andthe American Society of Appraisers.