This IFA is in their late 60’s and is looking to retire. They are based in Northern Ireland, so the majority of their clients are located there. Their client bank consists of 60 households with average holdings of c£250k. Average age of clients is 71.
They currently manage c£15m of FuM which is generating £114k in recurring income. Ongoing charge is either 0.5% or 1% depending on if its platform based.
As they are a sole trader this will be an asset purchase. Ideally, they are looking to achieve a multiple north of 3x.