Unique: Queensland Financial Planning Opportunity.

A diversified advice group, with their own AFSL, who have been in the industry for a combined 50 plus years are looking to exit the business.

There are two branches. One is in Brisbane and the other in Townsville. The business is mainly financial planning and includes a number of risk clients.

There are three advisers in the firm inclusive of one of the two principles. The business employs three full time admin staff, two part time admin staff and one part time IT expert for XPlan administration, management and development.

The make-up of the client base is a diverse range of Professionals, Small Businesses, High Net Worth Retirees and Accumulators in both rural and urban locations. There is a strong SMSF focus.

There are 369 client entities (Individuals, family groups and SMSF clients). The clients are primarily QLD based.

The clients’ age spread is:

Under 50 22%
51-60 22%
61-70 30%
71+ 26%

There is a sub database (77) of a Corporate super group based in Brisbane in the under 40’s that does not generate any income.

The records storage system is 100% cloud based through XPlan with the paper copies stored both off site and on site. Extensive development of the XPlan facility has created excellent compatibility, reporting and forensic facilities of the system.

The FUM amounts to $220M. This is administered and held by: CFS First Wrap, Macquarie, IOOF, MLC, CFS First Choice, Implemented Portfolios with small holdings in BT, North, Asgard and Netwealth.

The main insurance product providers are:

Clearview Onepath AMP

Insurance renewal income is approx. $230K p.a.

The current ongoing ASF plus renewal is $1.25m plus GST.

The main sources of income are:

Fee for service 79%
Insurance commissions 16%
Insurance commissions new 5%


The following are the opportunities for more business

  • Shares
  • SMSF
  • Business insurance
  • Mortgage products
  • Finance
  • Accounting
  • General Insurance
  • Consolidation to a single platform or Model SMA

This is one of those rare opportunities that presents itself to potential purchasers with a loyal client base, a range of income producing initiatives and a qualified staff to continue the high service aspect.

The vendors are looking for 3.25 times ongoing RR. The owner would be happy to stay on to ensure a successful handover for up to 12 months.

The vendors are willing to talk attractive terms for the purchase with an upfront investment, reasonable handover protocols and standard run off provisions.

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