The owner of this directly authorised IFA business in the North East is considering slowing down and feels now is the right time to start his exit strategy. He would prefer a ‘sell and stay’ option, because whilst he is looking to wind down, he is not quite ready to stop advising completely. He envisions another 1 to 2 years of advising post sale.
The business is producing £240,000 of recurring income with a further £110,000 of new business income. Included within the new initial is c£60k derived from Group PMI annual renewal. The clients are typically business professionals / owners.
The owner would like the acquirer to retain his staff, which includes a longstanding Paraplanner, who has the capability of stepping up to provide advice to clients and an Administrator.
This is a very clean directly authorised IFA business with no upheld complaints or compliance breaches. There have only been 2 DB transfers (one client) ever and these were completed in 2014.
Aligning with an acquirer with ethics of doing what’s right for the clients and his staff are of high priority.