Richard Wilson: updating a specialized broker on completed deals
Richard's broker relationship example included periodic updates about deals the buyer had closed and assets already in its portfolio.
The update gave the broker new information
In the deal flow module, Richard described keeping in touch with specialized brokers, ideally through a short face-to-face conversation. The update included what the buyer had completed since the previous contact.
The portfolio helped explain the buyer
These details could help a broker remember what the buyer did and which opportunities might fit. Richard discussed the contact as a recurring relationship.
In Richard C. Wilson's words
"you can update them on what deals you've closed, what you've gotten done, and what's in your portfolio." (Richard C. Wilson, How to Start a Family Office mini-series)
How to use this
- Use completed acquisitions to make a broker update specific.
- Check whether the update still reflects the assets the buyer wants to consider.
Questions and answers
What information did Richard put in the update?
Completed deals, recent work and the existing portfolio.
What kind of broker did he describe?
A broker specialized in the buyer's particular industry.