A professional financial planning business based in VIC has a superannuation database they are looking to dispose of. It is a “virgin” client base that has not been marketed to.
With opportunities untapped and ready for someone who wants to focus on extracting the many advice opportunities out of these account holders, this is a rare opportunity to acquire people who already have financial services products needing advice now and in the future.
There are around 334 clients that are spread nationally.
- NSW (64)
- QLD (29)
- VIC (190)
- WA (28)
- SA (23)
The age ranges of the clients are predominantly 30 to 70 with Super and Investments, plus some having risk policies as well.
The main product manufacturer for the risk is MLC.
Demographics by age:
| Age | Clients |
| < 50 | 229 |
| 51-55 | 35 |
| 56-60 | 32 |
| 61-65 | 17 |
| 66-70 | 9 |
| 71-75 | 7 |
| > 76 | 5 |
| Total | 334 |
The platform for Super/Investments is MLC Masterkey Super.
The Total FUM across all platforms is $27M. The average balance is approximately $80K per client. There are no group insurance products.
The ownership by the clients is mainly in single policies.
Potential
The potential for the buyer is to speak to a range of loyal clients that have been part of the business for over 8 years for some clients and who currently request service as and when required.
The clients have investments and insurance which they setup prior to joining the vendor. Over the years, clients have been very happy with the services the vendor has provided to the account holders which has been self-instigated.
Potential new business could be generated with a more proactive or digital approach from:
- Cross generational referrals
- Super amalgamation opportunities
- Shares
- Mortgage Broking
- General Insurance
- Accounting
- Aged Care
- SMSF’s
- Estate management and equalisation
The value of the database is determined by two simple criteria.
- A per head/policy amount of $110 each including GST.
- Super/Investment: A percentage of the FUM of 0.25%.
The vendor is looking for a simple WIWO agreement to dispose of the database.
Preference will be given to acquirers with approved funding in place rather than a contract that is “subject to finance”.
All negotiations are subject to a signed NDA with the vendor.