The owner of this IFA firm is no longer interested in running a business, therefore is looking to sell their firm and continue advising post-sale. They are seeking an Acquirer with an office presence and are open to an employed position with flexible working.
The business has between £35m and £40m FuM with a recurring income of c£240k. They have c150 active households with an average age of 65 and a number of clients over the age of 75. The majority of clients are on 0.5% ongoing charge with some inherited clients on less.
The firm has 1 self-employed adviser who brought with them their own client bank which equates to c£60k of RI. They receive 70% on the £60k plus any new business written and is looking to remain with the business post-sale. They also have 2 highly skilled Administrators who the owner is keen to keep with the firm, however this is a non-contingent requirement.
The ideal consideration price for this business is £1.2m and the owner is seeking a share purchase.