Although mergers and acquisitions open the door to new beginnings and increase revenue, they can certainly stir up a host of emotions. As long as you remember that these feelings are completely normal, you can get through your merger without any long-term implications.
#1 – Excitement
When you finally make the decision to merge with another firm, and once the paperwork is in place, the first thing you will likely feel is excitement. The sense of a new beginning and increased revenue for everyone seems to take over at first, making you feel as if you are walking on a cloud. This is especially true if you did all of your homework and made sure that the corporate identities of the two firms mesh.
#2 – Doubt
The next emotion that you are likely to experience is doubt, and while this can be disheartening, keep in mind that it is completely normal. You might doubt your research and wonder if you missed something. You might even doubt your decision as a whole and wonder whether you should have avoided the merger in the first place. During this time, remind yourself that you spent a lot of time considering the possibilities and implications and that your doubts are merely emotional responses.
#3 – Fear
No merger with another financial planning firm comes without a bit of fear at some point. Sometimes, things go awry with the paperwork and set you back a bit. In other cases, employees from your firm – or the merger firm – may become disgruntled and upset about losing the identity they have come to accept. In either case, remember that no merger is ever 100% without problems. The fear usually passes quickly, which is good news.
#4 – Interest
Once the doubt and fear have passed, you will likely discover a newfound interest in the merger. You might find yourself overseeing the tiniest aspects of things, and even taking a serious interest in the employees of the second firm. This is a great time to introduce yourself to them, allow them to ask questions, and set their minds at ease, too. Don’t forget to do the same for your existing employees; it will help them feel more at ease with the transition.
#5 – Enjoyment
Finally, once things truly start coming together and falling into place, you will experience a sense of enjoyment and fulfillment. There is nothing more promising than knowing that you created a larger, stronger, and more capable financial planning firm that is better equipped to provide for its clients. In fact, all of your employees will also develop a sense of enjoyment and fulfillment that will replace any doubt and fear they may have had related to the merger.
The merger of two financial planning firms is a major event, and it certainly keeps everyone on their toes. Although a merger can cause a host of emotions, the vast majority of mergers are 100% successful, and everyone feels happier in the end.