Key Takeaways
- Understand the key areas that the FCA expect clients’ needs to be considered as part of the commercial decision to purchase an advice business
- What client communication process is required, including format, disclosures and best practices
- Understand the data protection considerations and approach to ongoing adviser charges and commissions
- How new advisers coming into the industry can build and shape a small practice that resonates with millennials and retirees alike
- Understanding client bank characteristics that that help to make the purchase an ideal match
- Ideas to expand and grow a small practice by recruiting new advisers that can be replicated with the purchase of additional client banks
- As a seller, understand how to maximise the value of your client bank from a potential purchaser
- As a buyer, identify key considerations to establish if the purchase of a client bank is a good fit for your business
- Understand some of the key steps for both sellers and buyers to facilitate a smooth transition of a client bank
