Retiring IFA Worcestershire
Retiring IFA Worcestershire
Are you a Retiring Independent Financial Advisor or looking to sell your Worcestershire IFA business?
Worcestershire is an important centre of business for Berkeley Cannon. We specialise in working with retiring Independent Financial Advisors based in or around Worcestershire to provide a competitive review and valuation of their business to present to our established portfolio of IFA acquirers.
Berkeley Cannon specialise in retiring IFA business sales with valuations of between £250K and £100 million. Our IFA executive team identify the unique selling points of retiring IFA businesses and present them to potential IFA acquirers. Our London staff are chosen for their academic IFA knowledge and experience. They have backgrounds with leading investment banks, legal institutions and accountancy firms so understand the needs of retiring IFA sellers and buyers and how much an established Norfolk based IFA company is worth in the current market.
There are a number of stages to the retiring IFA sales process:
Review - Exploring the value of the retiring IFA business is the first step. Our staff diligently work to develop a thorough understanding of the retiring IFA company assets and offer a review and valuation based on our research as what an established Norfolk IFA business might be worth to a prospective IFA acquirer.
Instruction – Once the retiring IFA, decides to move forward with Berkeley Cannon to sell their Worchestershire based IFA business, we can assist at no cost associated with the research and creation of both of Information Memorandum.
Memorandum Production - We create both a summarised 1 page Information Memorandum (IM) and detailed IM to present to potential IFA acquirers. A detailed IM is usually 12-20 pages long and forms the core of our marketing material. The summarised 1 page presents a biography of your business, USPs and key assets to pique the interest of potential IFA acquirers.
Identify suitable IFA Acquirer – We then in a targeted manner send a focused summary to your most likely acquirers, this is usually done on a no named teaser basis . If they express an interest in your Norfolk based IFA company, we send an NDA (Non-Disclosure Agreement) before we send them a full IM, so the potential IFA acquirer has all the information needed to decide whether they want to meet with the retiring IFA seller and are prepared to offer a purchase price in the region of our estimated value. In many cases we do not need an NDA as we have long Deal Histories with these Buyers, so when we make our recommendations, you know they are with proven parties we trust.
Meeting - Once the buyer has signed the NDA and has received and read the detailed IM and we liaise with the retiring IFA business owner to organise a meeting in Worcestershire. IFA acquirers may present a multitude of offerings from share swaps, to earn out agreements, to full sales on completion date.
Signing Sales Heads of Terms – The retiring IFA will provide some pre offer information for an acquirer to present an offer based on the value of the Worcestershire based IFA business. The Heads of Terms provide a framework for the subsequent sale documents. We normally advise up to a week “cooling off” period to ensure both parties are happy to proceed because pulling out after Heads of Terms have been signed can incur a cost. It is important that both parties understand the earn out agreement and we are confident that the expectations of both parties are achievable.
Retiring IFA Worcestershire
Due Diligence - This will usually take 4-8 weeks including the time taken to draw up the IFA share sale (or asset sale) agreements and NDA documentation. The IFA acquirer then reviews all the information and confirms that they are satisfied with the accuracy and terms of the detailed IM. A completion date is agreed and worked towards.
Completion - On completion the retiring Worcestershire IFA seller will receive funds from the acquirers solicitor to his account or through his own solicitor, the costs are usually paid by the buyer and do not affect your consideration.
Berkeley Cannon are highly experienced and qualified to assist retiring IFAs in Worcestershire throughout the business sales process. Our fee structure is commission based, so we ensure there are multiple suitable IFA acquirers look at your IFA business. Our professional and experienced IFA advisers are only a phone call away.
We are familiar with our portfolio of established IFA acquirers and have every confidence we can secure Retiring Independent Financial Advisors thebest price for their assets/shares in the current marketplace.
Contact us via our enquiry form below or visit our LinkedIn page.
