Reference: 25211 | Region: Selling , South West | Price: £567,000 | Funds Under Management: c£20,000,000 |
Recurring Income: c£162,000 | No of Active Households: 141

This directly authorised IFA firm was established over 25 years ago. The owner is seeking to retire and is therefore looking to sell. They are open to remaining with the business and continuing to advise post-sale until a new adviser is found to take over their clients. The business has another adviser who is self-employed and manages c£8m of the £20m FuM. This adviser is also eager to continue advising post-sale for circa 5 years.

The ongoing service charge for clients with funds under £250k is 0.75% and for those over £250k is reduced to 0.5%, unless they would prefer 2 x F2F reviews when the charge is 0.75%.

The recurring income for this firm is c£162k. They have 141 active households with an average holding of c£142k. The majority of their client bank is based in Devon and Cornwall and the average age of their clients is 65. The business has no high-risk areas of advice and a clean FCA compliance record with no upheld client complaints.

The owner is seeking an ideal price of a multiple of 3.5x of recurring income and is looking for a share purchase to benefit from BADR.