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February 12, 2019

Chalice buys Succession Link to power new adviser M&A support service

Chalice Financial Network, a recently launched shared-services technology platform for RIAs, has unveiled a new service to offer M&A support for advisers.

Dubbed Chalice Advisor Lending Solutions, the new service is said to offer members expedited loan processing and lower rates, simplified underwriting as well as expedited approval.

To support the launch of the new service, Chalice acquired Succession Link, an online matching service for adviser M&A deals.

On joining within 31 March 2019, Succession Link’s 43,000 members will get 50% off on membership to Chalice.

Chalice also collaborated with Oak Street Funding, which offers conventional non-small-business-administration loans to advisers.

Additionally, Chalice has made some changes in the management structure.

As part of the reshuffle, Chalice COO Derek Bruton has been promoted to the role of president of the entire firm, where he will be responsible for managing the firm’s strategic growth plans.

Succession Link chief technology officer Tim Horton will also join Chalice while retaining his existing role.

Chalice founder, chairman and CEO Keith Gregg said: “From identifying potential transactions, to obtaining deal financing, to expertise on transaction execution and business integration, we now offer the entire continuum of solutions that independent advisers need to buy or sell a business.

“Just as the wealth management industry is experiencing a wave of baby boomer clients transferring trillions of dollars in assets to millennial heirs, thousands of financial advisers are preparing to retire in the coming years.

“The number of potential practice acquirers and sellers will continue to surge, and streamlined access to M&A guidance and competitive financing will mark the difference between success or failure for these advisers.”

Chalice focuses on smaller RIAs managing assets between $50m and $250m.

Members can avail the network’s services at a monthly fee of $250.

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