This IFA is approaching their 70’s and has been in the industry for over 50 years so feels it’s now time to retire. They currently look after c£25m of FuM (c86% with AJ Bell) which is generating £92k in recurring income. Majority of clients are on 0.5% ongoing charge with some larger clients on 0.2%.
Their client bank consists of 70 households predominantly based in the North West with average holdings of £364k. Average age of clients is 66 years old.
Clean vanilla business with no high risk areas of advice. Seeking share sale to benefit from Business Asset Disposal Relief but wouldn’t rule out an asset purchase if the rest of the deal made sense.