Reference: 24358 | Region: Selling , South East | Price: £1,036,000 | Funds Under Management: c£35,000,000 |
Recurring Income: c£238,000 | No of Active Households: 60

The owner of this IFA firm is in their mid-50’s and looking to sell their business to take early retirement. They are keen to remain with the business post-sale for up to two years in an to maximise client retention and suits their final end date. The business Administrator is Level 4 qualified, is also eager to continue working with the acquirer and eventually move into an Adviser position. Their current salary is £28k and alongside their administration duties they also have some contact with clients.

The current FuM of the business is circa £35m and their current recurring income is around £238k. Their client based is generally based in the South East and the firm has 60 active households with an average holding of c£563k. The ongoing charge is between 0.5% and 1%. However, for clients with larger holdings the charge is determined case-by-case and starts at 0.5% with no ceiling. 

The firm has no DB transfers however have previously referred 10 to a specialist Network who retain all risk for any advice given. They have a clean FCA compliance record and no upheld complaints.

The asking price for this firm is 4x of recurring income and they are seeking an asset purchase.