Listen to this week’s episode

Episode 161

On this week’s episode of Next Mile, I sit down with Scott Hanson, Cofounder at Allworth Financial. Scott helped build the firm and led it through acquisitions, private equity ownership, and recapitalization before stepping aside as CEO. Drawing on his experience as both a buyer and seller, he wrote The Private Equity Advantage to help business owners approach succession with greater clarity and intention.

We discuss what separates a successful transaction from simply getting a deal done. Scott explains why growth and cultural fit matter, how deal terms shape outcomes, and why planning should begin well before a letter of intent. We also discuss choosing experienced legal counsel, communicating change to employees, and preparing emotionally for a different role. Scott reflects on his own transition out of leadership and shares why understanding your strengths—and defining success on your own terms—is essential to building a fulfilling next chapter.

Key Takeaways

• Build a growing business before you think about selling. The strongest acquisition candidates aren't simply profitable—they have organic growth, momentum, and a clear plan for continued expansion. 

• Integration is where value gets created. Doing a deal is the easy part. The harder work is combining organizations in ways that improve the experience for clients, advisors, and employees.

• Know what you're giving up and what you're gaining. Selling a firm means exchanging some control for liquidity, resources, and potentially greater growth opportunities. The clearer founders are about that tradeoff, the more likely they are to thrive afterward. 

• Define success on your own terms. The next chapter doesn't have to look like someone else's. Understanding your unique abilities, what energizes you, and what you want from life can help shape a more fulfilling path after stepping away from leadership. 

Quotes

"For firms to be acquired, they have to be growing. And if they're not growing, there has to be some plan in place to make sure that there's growth, because that growth is super important for the buyer." ~ Scott Hanson

"Doing the deal is the easy part. Integrating the organizations, that's where the work is." ~ Scott Hanson

"I think what makes a successful integration and transaction is when the seller has the right kind of mindset. Understanding what the exchange is, what you're gaining, and what you're giving up—those who are clear on that do extremely well." ~ Scott Hanson

Links

• Scott Hanson on LinkedIn

• Allworth Financial

• The Private Equity Advantage

• Ian Wenik

• Focus Financial Partners

• Life Is in the Transitions

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• Milemarker.co

• Kyle on LinkedIn

• Jud on LinkedIn

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Kyle Van Pelt