What are you guys seeing as the evolution in that? And what's like the overarching culture that you're seeing a shift in? And then what's actually transpiring down on the ground for you guys?

The underlying shift is that was that 10,000 people in the US turn 65 every day.

It's no secret that there are, in every industry, roofing, plumbing, advisory, mechanics, there are business owners that are baby boomers.

that are turning 65 that wanna retire that don't have someone to buy the business.

That's in all industries, right? In the advisory space, it's also true.

There's a lot of different facts.

It's 10 trillion is gonna transition over the next 10 years.

And I was just curious in all these things you've done, One, does that come up in the conversation? If these are grinders and they've been doing it a long time and it's like, I can't wait not to do this, but it's like, yeah, what are you going to do with all your energy? And how have you seen it play out? I'm just curious on all this.

But

from a value creation standpoint, like the multiples on those are drastically, drastically different.

Sub one times revenue for a commission, sometimes zero.

Hey, I've got five million bucks in REITs.

It's like good for you.

Right.

What's your recurring revenue? And so understanding that fee based AUM is going to serve you in the long run.

Can you walk us through the differences of selling your practice internally versus externally?

first

one that comes to mind, whether it's speed to lead or like speed to lead is one, right? I think the other is what type of value, how are you using AI to make your life easier, to scale your business, to keep margins high, to produce high quality work, all of that.

So like how has AI been integrated into your business that makes you better than those that... over the last five years have not been integrating AI.

I think ultimately, too, it will be like top of the funnel leads.

How are you getting leads? This is something that keeps my partner and I up at night is we're a cold calling company.

Most of our leads come from cold calls.

Now, I also believe in like pick one channel from one avatar, one acquisition source, do that until you're at a million a year and then branch out, right? So we are cold calls to financial advisors in the independent space.

July.

What's the biggest challenge you're facing now?

So Seth, I think that a lot of the advisors in the space that are solo or independent They focus on, I think there's two camps.

One camp says, I know what enough is.

I've got 30, 50, 80 million in AUM.

I'm making good money.

The other camp says, I'm going to grow to find security.

And so I think the piece of advice I would say is to begin to pivot and think about what am I really building? And is what I'm building something that someone would buy? Right.

What do you like best about what you're doing?

[laughs]

"Why, why live anywhere out there?" On my interview they're like, "Can you move out here?" And I was like, "Yes." Like [laughs] that's e- the easy part.

So, um, my, my career starts serving financial advisors as an internal and then an external wholesaler of non-traded limited partnerships, REITs, BDCs.

I eventually get into oil and gas, uh, which I love that asset class.

And so I was a, a deal guy for a long time in alternatives.

And after about eight years in that said, "You know what? Let's kind of take a stab in entrepreneurship." Started a lot of companies.

My first company was a tow truck business, 'cause I had heard this podcast that a single tow truck can generate like 125,000 a year.

Uh, so then what's the approach? 'Cause I know with what you guys do, it's very much different than, let's say, the standard business broker model that's out there.

So Andrew, tell us about BuyAUM and what exactly you do.

Yeah, so Brian, BuyAUM was started, as many businesses are, I think is looking at how something functions and saying, how do we make this better? And so what my co-founder and I saw was how succession plan, first of all, the total adjustment market is huge.

Half of advisors retire in the next 10 to 15 years.

Okay, how is it currently being done? Well, it's currently being done in a very impersonable, you know, let me make a ton of offers, see what sticks from a buy side.

Maybe they subscribe to a marketplace.

Here's a teaser of a practice.

Submit your bid.

How do you help a client identify the perfect business to buy?