Succession Link, a US-based platform provider for buying and selling financial advisory practices, has entered into a strategic partnership with TD Ameritrade Institutional to provide independent brokers and RIAs with more acquisition and selling options.

The Succession Link platform will offer an easy way to grow their businesses through acquisitions and find ways to invest in new capabilities and add talented staff.

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In order to use the platform, advisors need to first register on the website after which they can get a list of firms available for purchase.

Furthermore, Succession Link will provide advisors with personal introductions to the selling firm only after the acquiring advisors find firms that suit them and meet the seller’s requirements as potential buyers.

The partnership will expand the options available for TD Ameritrade, which currently has an internal program for buying and selling practices.

According to Scott Collins, director of hybrid and advisor transitions at TD Ameritrade Institutional, said: "We see this as an excellent way for advisors to add scale and build their practices. And, with the average age of advisors being in the mid-50s, it also provides a great opportunity for those who want to retire from the business and sell their practices.

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"It’s a great way for advisors on our platform to connect with firms they wouldn’t otherwise have access to," he added.

Phillip Flakes, co-founder and managing partner of Succession Link, said:"It shows that they are not only supportive of their RIAs’ efforts to grow their practices through acquisition, but they are also willing to partner with platforms to make it happen."