Section A - successionlending.com · Succession Lending, LLC 294 Grove Lane East, Suite 120, Wayzata, MN 55391 1 Initial Here Loan Questionnaire SECTION A: CONTINUING PRACTICE INFORMATION

Succession Lending, LLC294 Grove Lane East, Suite 120, Wayzata, MN 55391 1

Initial Here

Loan Questionnaire

SECTION A: CONTINUING PRACTICE INFORMATION (REQUIRED FOR ALL LOAN TYPES)

Continuing Advisory Practice Information

Seller Practice Information (if applicable)

Section A

Section B

Name

Name

Social Security

Social Security

Email Address

Email Address

DOB

DOB

Industry Tenure

Industry Tenure

Cell Phone

Cell Phone

City

Street

Advisory Practice Name (DBA)

State ZIP

Loan Questionnaire


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SECTION A: CONTINUING PRACTICE INFORMATION (REQUIRED FOR ALL LOAN TYPES) CONT.

Custodian Broker DealerBusiness Phone

Current Practice Inception Date Years at Current BD or RIA

Name

Loan Amount Collateral

Percentage Ownership

Maturity Date Rate Fixed or Variable

Ownership Structure

Debt Structure

%

1

%

2

%

3

%

4

%

%

%

%

%

%5

Are you contingently liable on any lease or contract?

If yes, please list below.Yes No

$

$

$

$

$

Loan Questionnaire


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Loan

Year

Y/N Prepayment penalty terms

AUM

1

YTD

2

2016

2015

2014

3

4

5

Prepayment Penalties

AUM

Are you aware of any imminent changes to your current AUM?

If yes, please explainYes No


Loan Questionnaire


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Year Revenue

2018 (projected)

2017 (projected)

2017 (YTD)

2016

2015

2014

Practice Revenue

Are you aware of any imminent changes to your current revenue?

Was a significant percentage of any prior year’s revenue the result of a small number of transactions?

If yes, please explain

If yes, please describe below

Yes

Yes

No

No

Year Transaction Type Revenue


Loan Questionnaire


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If you have a successionary advisor, are they at the same BD or RIA?

Are your clients comprised of another practice you purchased?

If yes, how many years ago did you purchase the practice?

If you have a successionary advisor, what is his/her age?

Yes

Yes

No

No

Client Information

If yes, what was your client attrition rate

Number of households Average Household AUM Approximate average tenure of clients

Client Revenue AUM Age(s) Are Beneficiaries Clients? (Y/N)

1

2

3

4

$

$

$

$

$5

Top 10 Clients by Revenue


Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

Do you have an advisory successionary plan?

If yes, please provide advisor’s nameYes No

Loan Questionnaire


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6

7

8

9

$

$

$

$

$10

TOTAL

Top 10 Clients by Revenue Cont.

Yes No If yes, please explain

Percentage of top 10 clients of total Revenue

Average age of top 10 clients

Percentage of top 10 clients of total AUM


$

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

Loan Questionnaire


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Age % of Total % of AUM % of Revenue

Under 45

46 - 60

61 - 81

Demographic Information

Investment Revenue Attribution (Percentage of Investment Revenue)

Non-Investment Revenue Attribution (Percentage of Non-Investment Revenue)

Advisory fees

C share

A shares

Annuity

Life

Financial planning

Other investment revenue

Tax planning

Estate planning

Other non-investment revenue

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%

%


81+

Loan Questionnaire


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Investment Philosophy

Are model portfolios utilized?

Does firm have a dedicated CIO or analyst(s) for investment portfolios?

Is an investment process utilized?

Yes

Yes

Yes

No

No

No

Equity

Fixed Income

REITS

Alternatives

Other

%

%

%

%

%

Conservative: Current percentage of practice AUM

Current Portfolio Weightings

%


How often do you rebalance?

Daily Weekly Monthly Quarterly Annually Other

Would you consider an outsourced CIO?

Yes No

Loan Questionnaire


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Equity

Fixed Income

REITS

Alternatives

Other

Equity

Fixed Income

REITS

Alternatives

Other

%

%

%

%

%

%

%

%

%

%

Balanced: Current percentage of practice AUM

Growth: Current percentage of practice AUM

%

%


Loan Questionnaire


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Key Personnel

Name

Name

Name

Name

Name

Name

Name

Name

Title

Title

Title

Title

Title

Title

Title

Title

Licensed (Y/N)

Licensed (Y/N)

Licensed (Y/N)

Licensed (Y/N)

Licensed (Y/N)

Licensed (Y/N)

Licensed (Y/N)

Licensed (Y/N)

Number of full time employees Number of part time employees


Loan Questionnaire


Initial Here

The information contained in this statement is provided to induce Succession Lending Group to extend or to continue the extension of credit to the undersigned or to others upon the guarantee of the undersigned. The undersigned acknowledge and understand that Succession Lending Group is relying on the information provided herein in deciding to grant or continue credit or to accept a guarantee thereof. Each of the undersigned represents, warrants, and certifies that the information provided herein is true, correct, and complete. Each of the undersigned agrees to notify Succession Lending Group immediately, in writing, of any change in name, address, or employment and of any material adverse change (1) in any of the information contained in this statement, (2) in the financial condition of any of the undersigned, or (3) in the ability of any of the undersigned to perform its (or their) obligations to Succession Lending Group. In the absence of such notice or a new and full written statement, this should be considered as a continuing statement and substantially correct. Succession Lending Group is authorized to make all inquiries deemed necessary to verify the accuracy of the information contained herein and to determine the creditworthiness of the undersigned. The undersigned authorize any person or consumer-reporting agency to give Succession Lending Group any information it may have on the undersigned. As long as any obligation or guarantee of the undersigned to Succession Lending Group is outstanding, it may require an updated financial statement and tax returns annually. This personal financial statement and any other financial or other information that the undersigned gives Succession Lending Group shall be its proper.

Borrower Signature

Print

Title Date

REPRESENTATIONS AND WARRANTIES

Loan Questionnaire


Initial Here

SECTION B SELLER PRACTICE INFORMATION (NOT REQUIRED FOR LOAN RESTRUCTURE ONLY)

City

Street

Advisory Practice Name (DBA)

State ZIP

Custodian Broker DealerBusiness Phone

Current Practice Inception Date Years at Current BD or RIA

Is there a buy sell agreement in place? Yes No

Name Percentage Ownership

Equity Structure

%

%

%

%

%

Loan Questionnaire


Initial Here

Debt Structure

Does the practice have any outstanding loans?

If yes, please list.Yes No


Loan Y/N Prepayment penalty terms

1

2

3

4

5

Prepayment penalties

Loan Amount Collateral Maturity Date Rate Fixed or Variable

1

2

3

4

%

%

%

%

%5

$

$

$

$

$

Loan Questionnaire


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Loan Amount

Loan 1

Loan 2

Loan 3

Loan 4



Are you aware of any imminent changes to your current AUM?

If yes, please list amounts below.


Yes

Yes

No

No

$

$

$

$

Year Revenue

YTD

2016

2015

2014

AUM

Loan Questionnaire


Initial Here

Year Revenue

YTD

2016

2015

2014

Practice Revenue

Are you aware of any imminent changes to your current revenue?


If yes, please describe below

Yes

Yes

No

No

Year Transaction Type Revenue



Loan Questionnaire


Initial Here

Are your clients comprised of another practice you purchased?

If yes, how many years ago did you purchase the practice?

Yes No

Client Information

If yes, what was your client attrition rate

Number of households Average Household AUM Approximate average tenure of clients


1

2

3

4

$

$

$

$

$5

Top 10 Clients by Revenue


6 $

$

$

$

$

7

8

9

10

TOTAL $

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

No

No

No

No

No

Loan Questionnaire


Initial Here


Percentage of top 10 clients of total Revenue

Average age of top 10 clients

Percentage of top 10 clients of total AUM

Demographic Information

Age % of Total % of AUM % of Revenue

Under 45

46 -60

61 +

%

%

%

%

%

%

%

%

%

Investment Revenue Attribution (Percentage of Investment Revenue)

Advisory fees

C share

A shares

Annuity

Life

Financial planning

Other investment revenue

%

%

%

%

%

%

%

Loan Questionnaire


Initial Here


Investment Philosophy

Are model portfolios utilized?

How often do you rebalance?

Is an investment process utilized?

Yes

Yes

Yes

Daily Weekly Monthly Quarterly Annually Other

No

No

No

Non-Investment Revenue Attribution (Percentage of Non-Investment Revenue)

Tax planning

Estate planning

Other non-investment revenue

%

%

%

Loan Questionnaire


Initial Here

Equity

Fixed Income

REITS

Alternatives

Other

%

%

%

%

%

Conservative: Current percentage of practice AUM

Current Portfolio Weightings

%


Equity

Fixed Income

REITS

Alternatives

Other

Equity

Fixed Income

REITS

Alternatives

Other

%

%

%

%

%

%

%

%

%

%

Balanced: Current percentage of practice AUM

Growth: Current percentage of practice AUM

%

%

Loan Questionnaire


Initial Here

Key Personnel

Name

Name

Name

Title

Title

Title


Licensed:

Licensed:

Licensed:

Client facing:

Client facing:

Client facing:

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

No

No

No

No

No

No

No

If yes, is there a contractual agreement with purchaser?



If yes, is employee granted incremental transition compensation (bonus)?



Loan Questionnaire


Initial Here


Key Personnel Cont.

Name

Name

Title

Title

Licensed:

Licensed:

Client facing:

Client facing:

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

No

No

No





Name Title

Licensed: Client facing:Yes Yes

Yes

Yes

No No

No

No



Loan Questionnaire


Initial Here


Key Personnel Cont.

Name

Name

Title

Title

Licensed:

Licensed:

Client facing:

Client facing:

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

No

No

No

No

No

No

No

No





Loan Questionnaire


Initial Here

The information contained in this statement is provided to induce Succession Lending Group to extend or to continue the extension of credit to the undersigned or to others upon the guarantee of the undersigned. The undersigned acknowledge and understand that Succession Lending Group is relying on the information provided herein in deciding to grant or continue credit or to accept a guarantee thereof. Each of the undersigned represents, warrants, and certifies that the information provided herein is true, correct, and complete. Each of the undersigned agrees to notify Succession Lending Group immediately, in writing, of any change in name, address, or employment and of any material adverse change (1) in any of the information contained in this statement, (2) in the financial condition of any of the undersigned, or (3) in the ability of any of the undersigned to perform its (or their) obligations to Succession Lending Group. In the absence of such notice or a new and full written statement, this should be considered as a continuing statement and substantially correct. Succession Lending Group is authorized to make all inquiries deemed necessary to verify the accuracy of the information contained herein and to determine the creditworthiness of the undersigned. The undersigned authorize any person or consumer-reporting agency to give Succession Lending Group any information it may have on the undersigned. As long as any obligation or guarantee of the undersigned to Succession Lending Group is outstanding, it may require an updated financial statement and tax returns annually. This personal financial statement and any other financial or other information that the undersigned gives Succession Lending Group shall be its proper.

Seller Signature

Print

Title Date

REPRESENTATIONS AND WARRANTIES

Documents

Section A - successionlending.com · Succession Lending, LLC 294 Grove Lane East, Suite 120, Wayzata, MN 55391 1 Initial Here Loan Questionnaire SECTION A: CONTINUING PRACTICE INFORMATION