Was Fusion Feeding Into NFP’s Rollup Model?
by Diana Britton in Yield of Dreams July 13, 2012 National Financial Partners, the independent financial services company headed by Jessica Bibliowicz, is known on the Street for its roll-up model, acquiring the best independent financial advisory firms it can to achieve an economy of scale. What does Fusion Advisor Network, recently acquired by NFP, have to do with this roll-up model? Fusion may have been a “feeder group” of potential buyout partners with NFP, said Jonathan Henschen, a recruiter with Henschen & Associates. “These guys were kind of seed corn for future clients for the buyout partnership,” Henschen said. According to Henschen, NFP buyout partnership program involves buying $1 million producing reps with around $100 million in assets, primarily fee-based. The reps get 125 percent of trailing revenue up front, a 50 percent payout ongoing,...