5 questions to answer before acquiring a practice

Your Practice Acquisition Guide

You have spent years building a successful practice. Now, you’re seeking to continue growing through practice acquisition. Acquiring another practice is a complicated, extensive process. Practice acquisition requires an experienced team like us who can help guide you through every step. Are you equipped to handle this type of financial transaction?

We can give you the backing to be that partner.

Practice Acquisition: Is It the Right Time for You?

Practice acquisition is an effective growth strategy, allowing you to add more clients and increase your asset under management. However, it is only a good idea if your current practice fits the necessary criteria. 

In other words, are they ready for such an important step? There are five questions to answer before a practice acquisition should be considered.

  1. Have you experienced client and revenue growth over the past five years?
  2. Do you have documented systems and processes that allow your practice to scale and handle a sudden influx of new clients?
  3. Do you have the capacity and infrastructure (i.e., space, staff, technology) to take on additional clients?
  4. Can you leverage a sustainable client segmentation and service model?
  5. Can you effectively leverage technology to communicate and service new clients?

When It Is the Right Time

If you answer “yes” to the above questions may be ready to move forward. However, they still need to consider whether they have the financial means to buy another practice and make necessary investments in infrastructure, technology, and staff. 

Identifying the Right Prospect

If conditions are right and your client is ready to move forward, you must identify the ideal practice to acquire. 

There are more things to consider at this stage:

•      Type of practice (services offered, specializations, client profiles)

•      Practice size (# of clients/staff)

•      Practice location 

•      Ideal price

•      How well you can capitalize on the new opportunity

Guiding You Through the Practice Acquisition Process

It takes great skill and experience to develop a practice acquisition plan and guide clients through the entire process. Fortis Lux stands ready to partner with you to provide essential business and financial services to serve you and your clients. 


Do you have more questions about practice acquisition? Contact us to schedule a conversation. Together, we can determine the best way to service your clients’ needs … and yours.

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This information is for educational purposes only. This is not intended to provide and cannot be relied upon as, legal or tax advice. We suggest that you consult with your own legal and tax professional as part of this process. Any legal agreements entered into with other financial professionals are soley between you and those individuals.