Selling Your Business - March 2012
At this late stage advisers will find themselves in one of three camps. They will either be QCF level four qualified, have their fee structures in place and be raring to go, two, they will be on the road to completion, or three, they will be looking to sell up. For the latter, there are many issues to think about.
Many advisers do not know where to turn. Support exists among the adviser networks and business brokers, but where should IFAs go to get the best support? And how can they avoid the cowboys?
Providers, fund managers and larger regional IFAs are all buyers looking to pick up IFA client banks, so advisers may find themselves torn between price and making the right decision for their clients.
While RDR-qualified advisers will strive to remain profitable post-2012, many believe the two-year period after the deadline will be when the dust settles and firms are really forced to leave the profession.
For the adviser who does not want to get RDR-ready, awarding bodies could offer guidance on other qualifications within financial services. Or for the adviser who has sold up, opportunities may lie with larger regional and national IFA firms, with the banks or with providers.
Whatever IFAs decide to do, there seem to be an array of paths out there. But finding the right support and approach could be key in shaking off the difficulties in making these all important career-changing decisions.
Nicola Culley is seniot features writer of Financial Adviser
IN THIS REPORT
Knowing which kind of transaction you are trying to achieve when selling your firm is key to getting off on the right foot
With time running out, buyers and sellers of IFA firms should not overlook the merits of an independent M&A broker
Selling your IFA business begins with doing your research and finding the right support services