California-based Chalice Financial Network (CFN), an SAAS-based member organization for the independent advisory space, has announced the rollout of an upgraded version of its subsidiary product offering, Succession Link. Enhancements include a new website with upgraded user experience and compatability algorithms pairing optimal buyers and sellers with one another. Additional expanded offerings are also now available through Oak Street Funding for preferential advisor lending services, M&A support and succession planning from Gladstone Partners and business valuations from BizEquity.
According to their website, Succession Link’s marketplace connects “financial professionals with their ideal opportunity.” The CFN subsidiary currently has more than 48,000 registered financial professionals in its online community including advisors, insurance agents, CPAs, IBDs and RIAs, and has facilitated over 396 merger and acquisition transactions through the platform since inception.
“The rollout of the new and improved Succession Link represents our ongoing commitment to enhancing our offerings to benefit CFN members," said Keith Gregg, founder and CEO of CFN and CEO of Succession Link. "We are now comparable to the SBA for RIAs, the Amazon Prime for independent advisors and a credit union for our members.”
Chalice acquired San Diego-based Succession Link in early 2018 as part of its larger strategic vision to build out a full digital marketplace—the Chalice Exchange—to provide independent advisor business owners with economies of scale and operational efficiencies that will make them more competitive with wirehouses.
The Exchange offers members four quadrants of expertise and benefits: business, investment, technology and M&A solutions, all focused on supporting small- to mid-sized business in all stages of their lifecycle.
Separately, Chalice has consummated a new business partnership with Gladstone Associates LLC, an M&A consultancy that provides expertise to financial services and fintech providers.
Dan Kreuter, founder and chairman of the Gladstone Group, and the non-executive chairman of the Chalice Advisory Board, said, “Our [M&A] model is unique to our space, and our team of financial professionals have decades of experience in transactions and business advisory. I also am thrilled to be able to help the CAB build on Chalice’s already impressive series of successes.”
Chalice has plans for more partner integrations and new offerings later in 2019.