Are you a Financial Advisor(s) with £20m to £80m FuM, within a 60 mile radius of London seeking to sell to a firm who have successfully acquired 5 – 6 IFA businesses and now looks after £195m FuM?
Preferably Sell and Stay post sale for 1 to 2 years afterwards
This option would suit Advisers looking to stay post sale 3 – 4 days per week in the first year, then dropping down to 2 -3 days per week in the second year.
Sell and Go
This option will be considered on a case-by-case basis, providing the Vendor is available for handover meetings and to stay available when required, to ensure there is a smooth transition.
Acquisition Deal Value
This firm prides itself on maximising retention of clients. Typical deal structure is 3 to 3.25 times recurring income payable 1/3rd upfront followed by 1/3rd in 12 months and 1/3rd in 24 months. Will consider increased multiples and payment terms e.g. 40/30/30 basis or extending the deferred buyout over 3 years for the right client banks. Advisers staying on post sale will be remunerated on their involvement via a daily employment rate.
The Acquiring Company
This firm initially established as a mortgage broker and in its early days grew through acquisition of a sizable mortgage business. Since incorporation in 2012 it has acquired 5 to 6 wealth businesses taking the total funds under management to £195m. With a Chartered Financial Planner as its co-founder the team have 6 IFAs and 5 Mortgage Advisers. The firm’s footprint is generally within a 60-mile radius of HA1, which is target area for more acquisitions. Central London and Docklands would be of particular interest as the firm already have Advisers working from this area.
They are directly authorised with open architecture for migration of existing investment mandates. The firm have a centralised investment proposition which is reviewed every 6 months. This uses outsourced discretionary fund managers e.g. Brooks MacDonald, Cazanove, 7IM, Vestra and Brewin Dolphin. They use Praemium as their platform of choice, although have legacy business from acquisitions on others such as Old Mutual, Aviva, L&G, Cofunds and Fidelity.
Their adviser charging is 0.6% with typical TER’s of 1.2% to 1.4%. Sometimes this is up to c2% on older legacy funds. There is no intention to shoehorn clients into their CIP as any transfers will only be undertaken if it is in the clients’ best interest. They use Intelliflo as their CRM system and have successfully integrated clients onto their CRM from other acquisitions. Even better if the vendor uses iO themselves!
This is ideal for Financial Advisors:
IFA Client Bank Criteria
London & South East (within 60 mile radius of HA1)
Call us now on 0208 0044 154 or click Apply
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The information contained in our advert including any valuation calculations and percentage of up front and deferred payments are given in good faith and Premier Jobs UK Ltd uses all reasonable efforts to ensure that it is accurate; we give no representation or warranty in respect of such information and all such representations and warranties, whether express or implied, are excluded. No liability is accepted by Premier Jobs UK Ltd for any loss or damage which may arise out of any person relying on or using any information within this advert.