Jay Sachetti joined Jeff O’Brien, partner at Husch Blackwell and Dyanne Ross-Hanson, president of Exit Planning Strategies talked about the market for mergers and acquisitions, exit planning opportunities for companies that don’t end up for sale and how companies can maximize their eventual sale price during an early October panel at the first Upsize on Tap event at Summit Brewing Co. in St. Paul.
When the state Legislature passed a law requiring employers to provide paid leave and safe time for employees, Justin Bieganek started hearing differing details from friends, colleagues and peers.
Richard Hoyt was taking calls in January in his new offices at KDV in Brooklyn Park, the accounting and business consulting firm.
Hoyt sold his wealth management company, Analytics Investment Advisors, formerly of Excelsior, to KDV, and moved there to oversee the transition with his son, Derek Hoyt, who will become senior portfolio manager.
“It started with Upsize,” Hoyt says. He met KDV managing partner Loren Viere late in 2005, when the two firms were sponsors of an Upsize event, the Upsize Lifeline Awards & Forecast.
Viere called Hoyt last summer, asking to get together. Hoyt thought he would be asked to manage some of Viere’s assets, and instead Viere offered to buy the firm. It took almost six months to complete the transaction, terms of which neither Hoyt nor KDV will disclose.
“It’s propitious for all concerned,” Hoyt says. His clients “get access to KDV’s tax planning, estate planning, accounting” and other services. “We’ll bring rigor and imagination to their clients’” wealth managaement.
He said having a new boss “wasn’t as difficult as one might imagine,” considering that Hoyt’s been on his own for years. He was a consultant to the legal profession starting in 1974, then started Analytics Investment Advisors in 1996.
“At this stage of my life it felt pretty good.”
Hoyt holds a doctorate in economics, and he plans to write white papers with protocols and analytical metrics for KDV’s wealth management business. “I’d like to make an intellectual contribution” at the highest level.
He’ll then decrease his involvement over the year as his son takes over direct account management.
Richard Hoyt, KDV: 763.971.5619;***@*dv.com“> rh***@*dv.com; www.kdv.com
