This IFA firm is owned and run by two experienced Financial Advisors, with differing retirement dates. One of the owners is looking to exit financial services now to pursue other interests. The other owner is happy to sell and remain advising, if available.
The business has previously completed DB pension transfers, as such the owners are aware the business is likely to be sold via an asset purchase.
The business has an average ongoing charge of 0.7% for growth clients and 1% for clients in withdrawal.
Their client bank has average holdings of £240,000 and mainly comprises of professional business owners aged 50 – 65, with generational succession planning in place. They have a number of clients holding in excess of £1,000,000.
The business uses Intelliflo. They have a number of full-time and part-time team members and ideally would like them to be included within the sale.