This IFA is in their mid-50’s and is starting to look at a retirement strategy of an initial sell and stay. They are also happy to continue to service clients for 5-10 years. The majority of their clients are serviced f2f at the office or their homes therefore, they are keen to have the office space and staff retained post sale. This includes a Mortgage and Protection Advisor who is generating c£35k p.a but they have just taken on a client book which should see this rise to £60k p.a.
The business has c£30m of FuM which generates £130k in recurring income. Typical ongoing charge 0.4% however they are in the process of moving clients up to 0.6%. Their clients are based in West Wales and are mainly aged 50-65 with very few over the age of 75.
Ideally seeking a share sale so they can benefit from BADR and this is a clean, vanilla business with no high risk areas of advice. They are a network member which is a bonus as they will stand behind all the past advice meaning you won’t be taking on any of that past advice liability.