This directly authorised IFA firm is looking to sell as the owner is seeking to retire. The business has c£25m FuM and a recurring income of c£116k for 2022, however this figure has been affected by the recent market and their recurring income for 2021/22 was c£130k which is on track to be caived again in 2023
The firm has 33 active households with an average holding of over £750k and an average household age of 64. The majority of clients are based in Essex or within the M25.
The business has previously outsourced 3 DB transfers to other Financial Planners, however there is no risk associated and the buyer would not be liable. They have a clean FCA compliance record and no upheld complaints.
The owner is looking for a share purchase.
We have achieved a consideration offer at Heads of Terms based on 4.2x RI projection.