Reference: 26494 | Region: Selling , South West | Price: £455,000 | Funds Under Management: £15,000,000 |
Recurring Income: £130,000 | No of Active Households: 66

This Financial Advisory business is jointly owned with the directors looking at their options due to one of them looking to retire. The other director wants to stay on post sale with the acquiring company for up to 10 years and is capable of handling the client book therefore there wouldn’t be a need to recruit a new adviser. Plus, they are keen to have their Practice Manager kept on post sale and due to their knowledge and experience with clients, they would be a valuable addition to help with the handover and provide great continuity for clients.

The firm has c£15m of FuM of which c£14m is on Quilter. This generates £130k in recurring income from c66 active client households predominantly in West Cornwall with an average holdings of c£230k.

They are not interested in an asset purchase and will only consider acquirers who are happy to do a share purchase only with ideal consideration value of c3.5 times recurring income.