Episode 425: Humanizing RIA M&A and Next Gen Talent with Emily Blue
Standing in an airport after a meeting with a for sale by owner founder, Emily Blue called her colleague Ryan Halls to vent. When he asked which investment bank she planned to join, she realized there wasn't one she would put her name behind at every step of the process for wealth management founders. That moment led to Hue Partners.
Emily Blue, CFA, is the co-founder of Hue Partners, an M&A advisory firm that guides wealth management founders through the sale of their businesses. She previously served as Head of Corporate Development at a national multi-family office and led valuation and negotiation efforts at one of the largest aggregators in the industry.
WHAT YOU'LL LEARN:
In this episode, Corey Kupfer and Emily explore the human side of RIA M&A, from the emotional shift founders face after a sale to the build or sell decision. They discuss why the RIA M&A cycle is still in its early innings despite headlines about lower deal counts, and why next gen talent is now central to deal value in wealth management.
EMILY'S JOURNEY:
Emily went to college to become a nurse, until an anatomy course showed her that path wasn't for her. Her first taste of M&A came at an asset manager that diversified beyond midstream energy through an acquisition, where she helped integrate the portfolio teams and educate the sales force on new products.
That integration work shaped how she approaches deals today. After years on the buy side working with investment banks across the country, she and Ryan launched Hue Partners, a sell-side firm that works every engagement together and focuses on doing a lot for a very select few.
KEY INSIGHTS:
Culture and vision alignment matter as much as structure. "The money can be there, the deal can be the best structure you've ever seen," Emily said, "but if you're not gonna have fun with the people or you guys aren't aligned philosophically or from a vision perspective, it will be a rough road."
Founders need to be ready to stop being the king or queen. Even with a phenomenal acquirer, emotions will come up that sellers can't anticipate at the start. As Emily put it, "even advisors need advisors."
The blank sheet of paper exercise reveals the gap. Emily asks founders to draw their ideal day, then look back at the past month of their calendar for a day that matched it. Most are shell-shocked by what they find.
Build or sell is a real choice. Founders don't have to sell to reclaim their time, but something has to change, whether that means investing in hires and technology or finding the right partner.
M&A in a service business is a talent strategy. Emily noted that outreach to next gen advisors is "through the roof," and urged founders not to wait to take care of their people until they've reached their breaking point.
Perfect for RIA founders weighing whether to build or sell, acquirers building their M&A programs, and next gen advisors thinking about their future.
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FOR MORE ON THIS EPISODE:
https://www.coreykupfer.com/blog/emilyblue
FOR MORE ON EMILY BLUE:
https://www.linkedin.com/in/emilyblue-cfa/
https://huepartners.com/
FOR MORE ON COREY KUPFER
https://www.linkedin.com/in/coreykupfer/
https://www.coreykupfer.com/
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.
Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today!
Episode Highlights with Timestamps
[00:03:23] Emily's first deal and how integration work became her entry into M&A
[00:10:26] Are you truly ready not to be the king or the queen anymore?
[00:14:55] The blank sheet of paper exercise and the ideal day
[00:24:03] The airport phone call that led to Hue Partners
[00:38:10] Why the RIA M&A cycle is still in its early innings
[00:50:12] Next gen talent and why M&A is a talent acquisition strategy
Guest Bio
Emily Blue, CFA, is the co-founder of Hue Partners, an M&A advisory firm that specializes in guiding wealth management founders through the sale of their businesses. Prior to establishing Hue, she served as Head of Corporate Development at a national multi-family office and led valuation and negotiation efforts at one of the largest aggregators in the industry. Emily lives with her husband, Harrison, and their four children, and serves as a board member for Girl Scouts of NE KS and NW MO and Big Brothers Big Sisters of Kansas City.
Keywords/Tags
Emily Blue, Hue Partners, RIA M&A, wealth management M&A, sell-side M&A advisory, next gen talent, succession planning, build or sell, M&A integration, founder transition, DealQuest Podcast, Corey Kupfer
