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Biggest mistakes of RIA buyers and sellers

What are the biggest mistakes both buyers and sellers can make in an M&A transaction? Matthew Cooper should know.

As president of Beacon Pointe Wealth Advisors in Newport Beach, California, Cooper is on an aggressive buying spree.

But two challenges loom for the deal-making market, he says. What are they? Watch this Lightning Round interview with Financial Planning, in which Cooper answers a series of rapid-fire questions about the M&A market for RIAs, plus his favorite smartphone app.

We've had a tremendous run in the markets.

And so the markets were to pull back.

I think that would slow things down considerably and then obviously interest rates money is so affordable right now.

It's really driving a lot of this acquisition activity if interest rates were to spike.

I think with you deafness motor the biggest mistake the sellers make when they sell their businesses just waiting a little bit too long.

The amount of time in the sales cycle is so long that you become emotionally tied to a deal and you just do it because you need to get something done.

That's a big mistake.

Can we expand by acquiring other firms or having people join our organization and keep a great culture intact and continue to upgrade the people that we have on board.

Probably ESPN checking the scores.