The owner of this directly authorised IFA firm is looking to sell their business and retire. They are open to remaining with the business for up to two years post-sale in an ambassadorial role to maximise client retention and ensure a smooth transition.
The business has c£40m FuM and a recurring income of c£290k in 2022. The firm has c100 active households located entirely in the North West and with an average holding of c£400k. Clients are typically aged 40 to mid 50s with their oldest clients aged early 70s.
The firm has 2 office premises with 3 support staff including a Paraplanner and 1 self-employed Adviser who is anticipated to depart from the firm post-sale. They also have an inhouse Wills and Estate Planning team of 3 self-employed Trust Managers. Their average estate planning case size is c£1,500.
The ideal purchase price for this firm is 4x RI and they are seeking a share purchase.