gold for your golden years: how to sell your book
DESCRIPTION
Valuing a business is a difficult process so financial advisers must make sure they have enough comparable metrics in place to prove their business is worthy of a good price.TRANSCRIPT
Gold for Your Golden Years How to Sell Your Book
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Valuing a business is a difficult process so financial advisers must make sure they have enough comparable metrics in place to prove their business is worthy of a good price.
www.iress.co.uk
23,923
Dec 2012
According to figures published by Adviser Connect, the overall number of authorised investment firms on the Financial Services Register has fallen from 23,923 in December 2012 to 23,624 in July 2013; a decrease of 1.25%.
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Jul 2013
23,624
23,923
Dec 2012
According to figures published by Adviser Connect, the overall number of authorised investment firms on the Financial Services Register has fallen from 23,923 in December 2012 to 23,624 in July 2013; a decrease of 1.25%.
www.iress.co.uk
Jul 2013
23,624
23,923
Dec 2012
According to figures published by Adviser Connect, the overall number of authorised investment firms on the Financial Services Register has fallen from 23,923 in December 2012 to 23,624 in July 2013; a decrease of 1.25%.
If you want to leave the sector, there are firms that are interested in snapping up client banks and advisers. However, advisers must ensure that their business is appealing in order to attract a buyer and a good price. Selling a business is more than just handing over the client records. Financial advisers need to ensure their business is up to scratch in a number of areas.
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The number of registered
individuals with FCA
investment permissions
on the Financial Services
Register has fallen - from
133,414 in December 2012
to 128,380 in July 2013,
a decrease of 3.77%.
133
,414
Dec 2012
Jul 2013
128
,38
0
3.77%
Source: Figures published by Adviser Connectwww.iress.co.uk
The number of CF30
individuals (customer
facing staff) with FCA
investment permissions
on the Financial Services
Register has fallen - from
103,358 in December 2012
to 97,989 in July 2013,
a decrease of 5.19%.
103
,35
8
Dec 2012
Jul 2013
97,
98
9
5.19%
Source: Figures published by Adviser Connectwww.iress.co.uk
1 | COMPLIANCEThe business must be compliant in order to achieve the best price. The advice process must be repeatable and robust, and evidenced by clear client records that prove the compliance hoops have been successfully jumped through.
In the period between November 2012 and February 2013, the advisory practices that lost the most personnel - according to research by Matrix Solutions - were:
Source: www.ifaonline.co.ukwww.iress.co.uk
Lighthouse Advisory Services -159 advisers
Source: www.ifaonline.co.uk
1 | COMPLIANCEThe business must be compliant in order to achieve the best price. The advice process must be repeatable and robust, and evidenced by clear client records that prove the compliance hoops have been successfully jumped through.
In the period between November 2012 and February 2013, the advisory practices that lost the most personnel - according to research by Matrix Solutions - were:
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Sesame - 155 advisers
Source: www.ifaonline.co.uk
1 | COMPLIANCEThe business must be compliant in order to achieve the best price. The advice process must be repeatable and robust, and evidenced by clear client records that prove the compliance hoops have been successfully jumped through.
In the period between November 2012 and February 2013, the advisory practices that lost the most personnel - according to research by Matrix Solutions - were:
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Intrinsic Financial Planning - 113 advisers
Source: www.ifaonline.co.uk
1 | COMPLIANCEThe business must be compliant in order to achieve the best price. The advice process must be repeatable and robust, and evidenced by clear client records that prove the compliance hoops have been successfully jumped through.
In the period between November 2012 and February 2013, the advisory practices that lost the most personnel - according to research by Matrix Solutions - were:
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Positive Solutions - 105 advisers
Source: www.ifaonline.co.uk
1 | COMPLIANCEThe business must be compliant in order to achieve the best price. The advice process must be repeatable and robust, and evidenced by clear client records that prove the compliance hoops have been successfully jumped through.
In the period between November 2012 and February 2013, the advisory practices that lost the most personnel - according to research by Matrix Solutions - were:
www.iress.co.uk
1 | COMPLIANCEThe business must be compliant in order to achieve the best price. The advice process must be repeatable and robust, and evidenced by clear client records that prove the compliance hoops have been successfully jumped through.
In the period between November 2012 and February 2013, the advisory practices that lost the most personnel - according to research by Matrix Solutions - were:
The Royal Bank of Scotland - 104 advisers
Source: www.ifaonline.co.ukwww.iress.co.uk
2 | RECORDSThe reporting requirements placed on advisers have become more onerous,
which means you must ensure your client records are not just up-to-date but easily accessible and transferable to a new business owner.
www.iress.co.uk
2 | RECORDSThe reporting requirements placed on advisers have become more onerous,
which means you must ensure your client records are not just up-to-date but easily accessible and transferable to a new business owner.
Client and practice management software can help advisers to evidence the strength of their business and reduce costs, thereby increasing margins.
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3 | RECURRING INCOME
The more recurring income generated
by a firm, the more it is worth. In fact,
it is the biggest asset when valuing
businesses, making up 35% of the value
embedded in an advice firm.
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Advisers must work to ensure their business is in the best shape it has ever been in order to achieve the best price.
3 | RECURRING INCOME
The more recurring income generated
by a firm, the more it is worth. In fact,
it is the biggest asset when valuing
businesses, making up 35% of the value
embedded in an advice firm.
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Shipshape and Bristol fashion
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If you want to sell, here’s the ‘to do’ list:
Get compliant with RDR (and be ready
to prove it)
Shipshape and Bristol fashion
www.iress.co.uk
If you want to sell, here’s the ‘to do’ list:
Get compliant with RDR (and be ready
to prove it)
Update your records
Shipshape and Bristol fashion
www.iress.co.uk
If you want to sell, here’s the ‘to do’ list:
Get compliant with RDR (and be ready
to prove it)
Update your records
Boost your recurring income
Shipshape and Bristol fashion
www.iress.co.uk
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