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Bending The Truth When Buying/Selling a Firm
Advisors doing a deal rarely say what they actually mean.

A big part of our business involves providing funding for M&A transactions. So over the last eight years, we've observed hundreds of RIA buyers and sellers in the midst of potential transactions. And we have seen numerous transactions fail, at least in part because each side's inability to understand the other's perspective became an insurmountable obstacle.

Selling owners are often exceptionally emotional and deeply paranoid; irrational behavior becomes commonplace. Many prospective acquirers, meanwhile, are equally scared that they might actually succeed. Straightforward communication becomes extremely challenging.

Page through to see a set of common fibs and misstatements you might hear from both buying and selling advisors, or click here to see them in a single page. -- Mark P. Hurley

•to Read more: Most Deals Fail. Here Are 11 Ideas to Make Yours

Mark P. Hurley is chairman & CEO of Fiduciary Network.