The owner of this financial advisory business is looking to sell their ‘A & B’ clients due to illness. They are looking for an acquirer who will let them carry on servicing their ‘C value’ clients which have less than £50k of invested assets. They are looking to continue servicing these clients under their current network and will be happy signing the necessary restrictive covenants.
They are looking to sell c45 clients which make up £11m of FuM. This is generating £77k in recurring income and their ongoing charge is 0.7%. The clients are in their 40’s and 50’s with high earning jobs such as CEOs and Solicitors. Clients are based in London and the South East.
Clean business with no complaints. This will be an asset purchase and the vendor is looking for a multiple of 4x recurring income.