Greasing the Wheels of Deals with David DeVoe

Jun 25, 2024

The DealQuest Podcast remastering series continues as I take it all the way back to not only the very first podcast guest, David DeVoe, but the very first episode ever — and there’s no better topic than wealth management.

The wealth management industry has seen significant growth and evolution over the years, with a focus on consulting, investment banking, and valuation becoming key areas of expertise. Founder of DeVoe & Co, David DeVoe, is no stranger to this growth and expansion. With over 35 years of experience in supporting deal-driven growth for businesses, David has more than proven that he’s not only a veteran of the industry, but a leading expert on all these areas of growth.

Consulting in Wealth Management
Consulting plays a crucial role in the wealth management industry, providing strategic guidance and support to wealth managers in making important decisions. Wealth management consulting firms offer a range of services, including succession planning, governance, equity migration, incentive compensation plans, HR, and product development and segmentation. These services are designed to help wealth managers make informed decisions that align with their long-term business goals and objectives.

One of the key benefits of consulting in wealth management is the ability to provide tailored solutions to address the unique challenges and opportunities faced by wealth managers. By leveraging the expertise of consulting firms, wealth managers can gain valuable insights and recommendations that can help them navigate complex business decisions and drive sustainable growth.

Investment Banking in Wealth Management
Investment banking is another critical area in the wealth management sector, focusing on facilitating mergers, acquisitions, and strategic transactions for wealth management firms. Investment banking firms in the wealth management industry play a pivotal role in helping firms buy, sell, or merge, providing valuable support in negotiating deals and identifying potential acquirers or sellers.

In addition to facilitating transactions, investment banking firms also offer strategic guidance and support to wealth managers, helping them navigate the complexities of the deal-making process. This includes evaluating the financial aspects of the transaction, conducting due diligence, and structuring deals to maximize value for all parties involved.

Valuation in Wealth Management
Valuation is an essential component of wealth management, providing a comprehensive assessment of the economic value of a firm. Valuation firms in the wealth management industry utilize sophisticated models, such as discounted cash flow analysis, to determine the fair market value of a wealth management firm. This process involves analyzing the financial performance, assets, and future cash flows of the firm to arrive at a defensible valuation.

The role of valuation in wealth management extends beyond determining the value of a firm for potential transactions. It also helps wealth managers gain a deeper understanding of their firm's financial health, identify areas for improvement, and make informed decisions regarding growth and expansion strategies. By leveraging valuation services, wealth managers can gain valuable insights into the true value.

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For my full discussion with David DeVoe, and more on this topic and topics not featured on this blog post:
Listen to the Full DealQuest Podcast Episode Here

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Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.
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Corey Kupfer is an expert strategist, deal-maker, and business consultant with more than 35 years of professional negotiating experience as a successful entrepreneur and attorney.


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