Episode 19: Highlights from the DeVoe M&A+ Succession Summit: Day One, with Corey Kupfer

Corey Kupfer has been working in the business of negotiations for more than 30 years, both as a successful entrepreneur and as an attorney. His goal is to help you strategize, plan for, find, and complete deals that will help your company grow rapidly. This is called “inorganic growth”, and it differs from the traditionally slow, organic growth many are familiar with. In this solo episode of Fueling Deals, Corey discusses the importance of maintaining alignment with your character and values, not only within the scope of doing deals but in all aspects of your business and life.

In part one of this special two-part series covering the events and speakers of the two-day DeVoe M&A+ Succession Summit that took place on May 30-31, 2019 at The Harvard Club in New York, Corey Kupfer details the wealth of information shared by luminaries of the RIA industry. Listen to learn what’s currently on the minds of Ed Swenson from Dynasty Financial Partners, Rudy Adolf of Focus Financial Partners, Mark Tibergien of BYN Mellon Pershing, David DeVoe of DeVoe & Company, and many other fascinating industry thought leaders as Corey Kupfer recaps day one of the summit!

What you’ll learn about in this episode:

• Why the trend is increasingly leaning toward growth deals, rather than deals relating to succession
• Why David DeVoe believes that "mega firms" will begin to appear in the landscape, and why marketing technology is an emerging trend
• Why firms with greater overall organic growth are also seeing a higher rate of growth via mergers and acquisitions
• Why DeVoe & Company weighs discounted cash flow as 85% of their valuation methodology, and why they adjust for situational factors
• Corey outlines a panel that featured a number of financing sources, and he discusses each of the featured members of the panel
• Why the marketplace is evolving to support more funding options, and why owner financing for internal successions is less necessary today
• Ed Swenson of Dynasty Financial Partners announced a new platform called Dynasty Connect to deliver expertise in valuation, M&A readiness, and more features
• Corey discusses a fireside chat between Rudy Adolf and David DeVoe, where Rudy discussed Focus Financial's commitment to never turn entrepreneurs into employees
• Mark Tibergien of BYN Mellon Pershing discussed why growth is a major cause of bankruptcy, why the cost of people is a major impact on profitability, and other points around the benefits of growth
• Why growth is one method firms use to provide a path for their top talent when the owners aren't ready to retire
• Why growth as a long-term strategy makes sense, but why growth for the sake of growth is evil

Additional resources:

• Website: www.fuelingdeals.com