This self employed Financial Adviser is looking to sell their client bank and retire as they are in their mid-60’s. They are a sole trader so it will be an asset sale with a purchase price of c£80k which works out to 3.5x recurring income.
They have £2.2m of FuM all on Novia, generating c£23k of recurring income. Their client bank consists of 20 individuals spread across Edinburgh, East Lothian, Glasgow and Dundee etc. Average client holdings of £130k and with the majority in their late 50’s to early 60’s. Ongoing charge of 1%.