Practice sale or succession
Realising the maximum value of a practice is vitally important to the majority of business owners and, as such, needs careful consideration and planning. Never has this been more true than today. Demographics of the adviser population suggest that up to a third are looking to retire in the next 10 years, which could be affected further by recent legislative proposals.
Despite this trend and the obvious advantage advisers have in considering retirement due to their professional background, only 30 percent profess to have a clear exit strategy and fewer than half have identified the valuation they require to meet their personal financial plans.
It is clear that there is going to be a competitive market over the next few years where the supply of practices for sale may outstrip demand. While there is no clear formula for calculating the value of an adviser's business and the market is still in its infancy, structured, well managed practices with quality client data, ongoing income streams and potential for growth will clearly attract a premium.
- The potential options.
- How to maximise the return.
- A high level process to consider when building your plan.
- Tips on how to make the process run smoothly.
