Setting the Stage for Partnership Success: Business Valuation and Restructuring for Rock Harbour Wealth Management.
APRIL 2024
About Rock Harbour Wealth Management Inc.
Rock Harbour Wealth Management Inc., led by Tim Jones, Michael Steffler and Jean Deschenes, is a well-established professional financial consulting advisory firm providing a guiding light to financial security. Rock Harbour helps its clients understand when and how they can retire – addressing the goals, challenges, and concerns to give clients the peace of mind to retire when you want, and with the lifestyle you desire.
Rock Harbour Wealth Management transitioned into a dynamic partnership model, led by Tim, Michael, and Jean, united under one banner while ensuring a fair and equitable restructuring process.
Challenge
Rock Harbour Wealth Management faced a critical need to establish a robust partnership framework, which required:
Accurate Business Valuation: Determining the value of each partner's contributions to ensure fairness and alignment during the restructuring process.
Facilitating Collaboration: Aligning the diverse perspectives of Tim, Michael, and Jean while addressing the complexities of merging individual businesses into one cohesive entity.
Ensuring Transparency: Providing clarity and trust throughout the valuation process to lay the foundation for long-term success.
Solution
London AVERY was commissioned to lead the business valuation pursuant to the restructuring process. Our approach featured the following key phases:
Phase 1 - Discovery and Alignment: London AVERY engaged with Tim, Michael, and Jean to understand their individual business operations, objectives, and shared vision for the future of Rock Harbour Wealth Management. This step established a collaborative foundation for the valuation process..
Phase 2 - Comprehensive Valuation Analysis: Working closely with Rock Harbour and their accountants, London AVERY conducted a detailed valuation of each business. This involved:
· Examining financial performance, client demographics, and growth projections.
· Conducting market benchmarking to validate valuation figures against industry standards.
· Applying fair and transparent valuation methodologies to ensure equitable outcomes..Phase 3 - Facilitation and Communication: Throughout the process, London AVERY maintained open lines of communication, fostering trust among all parties. We presented the valuation findings clearly, addressed stakeholder concerns, and ensured the partners were fully aligned with the outcomes.
Results & benefits
The implementation of London AVERY's solution yielded significant positive results for Rock Harbour Wealth Management:
Fair and Transparent Valuation:Delivered a detailed valuation report that established an equitable basis for the new partnership structure.
Streamlined Collaboration: Facilitated productive discussions that aligned Tim, Michael, and Jean’s visions for the future of Rock Harbour Wealth Management.
Strong Partnership Foundation: Enabled the firm to move forward confidently under a unified banner, ensuring long-term stability and growth.
