Reference: 12006 | Region: Midlands , Selling | Price: c£600,000 | Funds Under Management: £20,000,000 |
Recurring Income: £120,000 | No of Active Households: 65

East Midlands based IFA with c£20m of FuM is looking to sell their business due to poor health therefore is looking for a quick exit. This is a directly authorised firm with c65 households and average holdings of c£300k.

Looking for an asset sale so that once the clients are sold, they will be removing their wealth permissions and just keep their mortgage permissions so the vendor can do the odd mortgage from time to time in their semi-retirement. The vendor is happy to sign the necessary restrictive covenants to reflect this. This is a clean vanilla business with no high-risk areas of advice.

The business is generating c£120k in recurring income plus, c£28k in new business income. Average ongoing charge is 0.6%.