Businesses wanted for national FP group

A successful business group with their own AFSL is looking for suitable acquisitions.

Specific geographical locations are not limited. They have foundation footprint in Melbourne, Gold Coast and Brisbane. They already have servicing staff in Tasmania WA and Sydney.

They are interested in. Investment. Financial Planning, Risk, SMSF, Shares, Property Investment, Wealth Accrual and wholesale SMSF opportunities.

The buyer has the capacity to absorb businesses with an annual turnover of up to $550K with relative ease as they have capacity across their existing advisers.

Of interest is also the opportunity to take on a book that is a bit larger (+$1M) if there are some staff as a part of this arrangement.

Type of preferred clientele preferred is retirees/aspiring to be self-funded retirees, preferably, business owners.

Average annual fees sought per client is a minimum of $7k per client – preferable up to $10k per client with an age range of 50+ of clients. Average FUM per client sought is $1M.

The group predominantly use IMA/SMA structures. There is an inhouse investment team that supports the management and investments on client portfolios.

Platform preference is predominantly Netwealth, but they would also consider Praemium and Hub24.

The acquirers would consider opportunities with or without current owners (as AR’s) – depending on the expectations of the vendors. A warm hand over would be preferable and the ability to absorb key staff is of interest.

The interested party is offering an attractive package including:

  • Up to 3.0 times Multiples of annual turnover depending on quality of the book and a suitable cultural fit
  • Up to 80% up front of the multiples of annual turnover
  • With the vendor to be in full caretaker mode for up to 12 months.
  • Would consider the vendor staying on for 1-3 years with rise and fall conditions to be considered

For more information and a prompt introduction please contact Jim Prigg on 0408 520 453 or jim@knowledgemaster.com.au.