This West Yorkshire based network authorised IFA firm is looking to sell their client bank and retire. They are open to remaining with the firm to support a smooth transition in an ambassadorial role.
The business has c£25m FuM with a recurring income of c£125k. The majority of their 95 active households are based in the West Yorkshire area and have an average holding of c£260k with an average age of 61. Their ongoing charge is 0.5% and their initial charge is typically 3% on the first £100k, above this figure the initial charge is 1%.
The owner of the firm wrote 9 DB transfers between 2012 and 2019, none of which were British Steel. Every case was checked and approved by the network who retain all risk for past advice.
As an LLP they are seeking an asset purchase and the ideal consideration price for this business would be £500,000 to £600,000.