The Director of this business is in their 70’s and is looking to sell their clients so they can retire. This is a small business managing c£5m of FuM which is generating £40k in recurring income. Their client bank consists of 18 households with average holdings per household on c£300k. Majority of the clients are based in London and the South East with an average age of 78.
The vendor is very motivated to carry out a full handover of clients as many have been with them for over 20 years so wants to make sure the transition is as smooth as possible. Plus, they are open to the idea of a longer earnout due to age of their clients.