Retirement Tax Services Podcast Businesses grow or die, that's it. With Ted Jenkin
Mar 23, 2026
Ted Jenkin, founder of JPTD Partners and expert in business sales and valuation, shares practical strategies for maximizing firm value. He highlights the importance of net new assets, clean financials, and intentional operations. Conversation covers staff efficiency, legal and tax prep for exits, and how AI and consistent business development fuel scalable growth.
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Net New Assets Drive Valuation
- Net new assets (NNA) are the dominant driver of advisory firm value and act as an antidote to market downturns.
- Ted contrasts two advisors: a 51‑year‑old with >$20M NNA and $3M revenue sold higher than a 67‑year‑old with $4.25M revenue but negative NNA.
Clean Books Are Transaction Currency
- Keep clean, well‑categorized books for at least three years so buyers can run a forward P&L and verify ad‑backs.
- Ted recommends bifurcating revenue accounts (fee advisory, planning, commissions) and simplifying the GL to explain adjustments easily.
Control Staff Costs To Protect Multiple
- Limit non‑advisor staff comp to a sustainable share of revenue; buyers expect operational staff near 7% of revenue.
- Ted warns a $3M practice with $1M staff cost will be penalized by buyers and reduce seller payout.