WASHINGTON, D.C. - For Quest Capital Management, an internal buyout turned out to be the best way to solve a succession planning dilemma.

When a founding partner wanted to step down, Dallas-based Quest initially planned to use an external sale to give him a way to cash out, said Kalita Blessing, one of the firm's second-generation partners. But after a three-year dance with banks, RIAs and investment bankers that lasted from 2007 to 2010, Quest's shareholders changed their mind.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access