Well established IFA looking to grow by acquiring North West firms

The Specialists in Financial Services Recruitment

Job Details

Well established IFA looking to grow by acquiring North West firms Acquisitions
Reference ID: 1291
  • Salary/OTEOffering between 3 - 4 x recurring income; each deal being considered on its own merits. The acquirer is open to considering share purchases or asset purchases of well-run IFA businesses within 50 mil
  • Vacancy LocationNorth West
  • RemunerationSelf-Employed with Draw
  • RegionNorth West
Job description

Are you seeking a regional Chartered IFA firm based in the North West and established over 20 years ago with substantial cash balances to acquire your IFA clients?

Competitive Deal Options for share or asset purchases

Offering between 3 - 4 x recurring income; each deal being considered on its own merits. The acquirer is open to considering share purchases or asset purchases of well-run IFA businesses within 50 mile radius of Chester.

Payment period typically is 50% upfront, followed by 2 deferred payments of 25% at 12 months and 25% at 24 months

This is ideal for retiring IFAs in North West, who:

  • Are seeking retirement and an exit from financial services
  • Want to deal with a local Chartered firm with at least 20 years advisory experience
  • Want most clients to receive face-to-face financial planning reviews where building strong relationships prior to recommending any changes to investment mandates or charging structures is paramount

Want an acquirer to have open architecture to maintain existing investment arrangements

Would like to deal with established firms who have cash balances to fund acquisitions without the need for leveraging finance

The Acquiring Company

Established over 20 years ago, they through organic growth have successfully grown their Chartered independent financial planning business to managing £450m of funds under management, plus a pipeline that is likely to achieve c£0.5bn by the end of 2021.

Whilst the firm has open architecture their platforms of choice are Standard Life and Aviva which are evenly split. They favour using model portfolios which are monitored internally by their investment committee which comprise 3 Advisers and 2 Technical Paraplanners. All staff are employed. Adviser fee charges are 0.5% to 1% with 65% on 0.75%. Typical TER’s are generally between 1.6% - 1.8%.

With bank cash balances of c£4m they are keen to invest some of these funds by buying retiring IFA clients or businesses. Both share and asset purchases will be considered. They are open minded about the size of business being acquired.

Their objective is to win the clients over by building strong relationships first before making any changes to investment mandates or fee charges.

Call us now on 0208 0044 154 or click Apply

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