The owner of this directly authorised East London based IFA firm is looking to sell their business and retire. They are open to remaining with the firm post-sale to support client handovers and ensure a smooth transition.
The firm has c£31m FuM and a recurring income of c£311k. They have c236 active households with an average age of 60 years and average holdings of c£132k. Their current ongoing charge is 1%.
The business has 1 Administrator and 1 Paraplanner who is Level 4 Diploma Qualified. The Paraplanner undertakes a hybrid role which involves some advising as well as their Paraplanning duties. They would be looking to remain with the business post-sale.
The firm has previously referred c5 DB transfer cases to another specialist DB transfer business which they receive some kick back from. The firm has a clean FCA client record and no upheld client complaints.
The owner is seeking an asset purchase and the idea purchase price for this firm would be between 3.5x and 3.75x recurring income.