Are you a Financial Adviser or owner of a small IFA firm within 1 hour of Wolverhampton looking to retire or exit from Financial Services with average client holdings of £250k or more?
Our client company was established in 2017 with offices based in Wolverhampton. The Principal has spent over 20 years in financial services looking after HNW clients and set up on his own in 2017. They have grown their FuM to c£50m and looking to grow through acquisition with an additional £50m – £100m of FuM .
Providing wealth management and financial advisory services to HNW and affluent clients with £400k / £500k or more, and whilst ideally would prefer to acquire client banks of similar holdings appreciate that there will be some good client banks with £250k to £300k average holdings.
Offering independent financial advice with open architecture to enable clients to stay invested on existing investment mandates. Where in the clients best interest would consider moving to a DFM MPS offering although not expecting to make any immediate changes. The firm typically charge 0.5% to 0.65% recurring income.
The firm have strong financials in their own right with additional funding (if required) in place which is backed by a FTSE Stockbroker to support their growth plans through acquisitions.
Sell and Go (staying to achieve effective handovers)
This is ideal if:
- You are considering retirement
- You want a fair and highly competitive price for your client bank
- You would like a structured, simple handover that is sensitive to your clients
- You only want to deal with a financially sound and highly reputable Independent Financial Advisory firm
- You want your clients to be looked after by local IFAs
Generally a multiple of 3.5x to 4x of ongoing fee income.
Typical deal structure of 50% upfront on completion, 25% at 12 months and 25% at 24 months
- Independent Financial Advice
- Open architecture to leave clients on existing mandates
- Only move clients to a DFM / (MPS) proposition using some of the UK’s best fund managers only where this is in the clients best interest – deals are non-contingent on moving any funds and would only be done after strong relationships have been built
- Honour existing charging structures
- Ideally asset purchases but wouldn’t rule out share purchases subject to clean compliance history and no DBT’s
- You must be a Financial Adviser, with clients typically within 1 hour of Wolverhampton (would expect the odd client to be living further afield)
- Minimum average holdings per household of £250k
- Clean compliance record with no upheld complaints
- Ideal client bank would be c70 client households with c£50m but due to having relatively open-ended funding will consider client banks with less or more as not opposed to larger firms where the firm employ advisers to service clients.
Call us now on 0208 0044 162 or click Apply
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