Last week, I met in person with a $3 billion wealth management team exploring their future options. Could we have done the meeting over Zoom? Sure.
But some conversations are simply too important to have through a screen.
Most advisors didn’t build their businesses through technology. They built them through relationships. Sitting across the table from clients. Looking people in the eye. Earning trust over years and decades.
That’s how many of the best businesses in our industry were built.
And when it comes to evaluating a merger, acquisition, succession plan, or strategic partnership, I believe those same principles still matter.
Yes, valuation matters. Yes, deal structure matters. But after more than 30 years working with wealth advisors, I’ve learned that the biggest decisions are rarely made on economics alone.
They’re made when you spend time with people and ask yourself:
• Do I trust them?
• Will they take care of my clients?
• Will they value my team?
• Do our cultures align?
• Can I see myself working alongside them for years to come?
Technology has created incredible efficiencies and expanded access to potential partners.
But it cannot create trust.
And it cannot tell you whether the people sitting across the table are the right long-term fit for your clients, employees, and legacy.
In an industry built on relationships, some things still need to be done face-to-face. Sometimes the old ways still work best.