This existing IFA firm is looking to complete a segmentation exercise, whereby he will sell all clients with holdings of less than £250,000. As part of his business strategy to focus on clients in excess of £500,000 in the future.
The 84 active households all have client fee agreements and generally have 1% ongoing advice charges, generating £118,000 recurring income, plus retainers of £3,000.
This could provide a great client bank to a local IFA firm looking to build their Funds under Management and client bank.