This Financial Adviser is in their 70’s and is looking to retire. The business is directly authorised and based in York. This could suit someone seeking a small Directly Authorised business to facilitate a change in control to take over the permissions. Equally, the vendor is open to an asset purchase too with a multiple of c3x recurring income.
The client bank consists of 55 households with average holdings of c£120k, mainly based in East Yorkshire. The business manages £6.8m of FuM which generates £33k in recurring income. Ongoing charge is 0.5%.
This is a clean vanilla business with no high risk areas of advice.