Featured Brokers
CONFIDENTIAL SALE
FOR SALE
04/01/24
604584
154871 / Rightbiz
Based in the north west
The company is a financial planning company offering advice across a diverse spectrum of areas, including mortgages, protection, investments, pensions and lifestyle cash flow planning.
Operating regionally, the company has an extensive client database featuring over 7,000 private individuals. This includes over 1,300 investment, lifestyle and pension clients who continue to provide regular business, some of which have been in place for over 20 years.
The company is being offered for sale to facilitate the Shareholders’ retirement plans.
Offers invited.
Key Highlights
- Benefits from a high volume of crossover business, with many clients beginning their relationship by establishing a mortgage before utilising its wealth management services at a later stage.
- Operates in a buoyant market, with pensions, investments and mortgages all showing signs of increasing.
- Excellent knowledge of and connections within the local market.
- Consistently adheres to and exceeds financial resources requirement set out by the regulator, with an in-depth compliance and corporate governance review and update recently undertaken.
- Considerable scope for further growth through upselling services to its existing client base, with further opportunities to acquire new business in the pipeline.
- Experienced staff in place across all departments, with the existing management team able to manage the company independently.
- Operates from ideally located leasehold premises. The lease has just been renewed until 2030, with the landlord agreeing to several renovations to upgrade the business significantly.
- £200m assets under management
- 500–600 new mortgage applications processed each year
Financial Highlights
- Turnover in FY22 and FY23 in excess of £2.1m, expected to increase to £2.33m in FY24.
- Underlying EBITDA in excess of £400k.
- Turnover shows year on year growth, increasing by 112% between YE19 and YE23.
- Portfolio includes a significant volume of pension money under management.
- Facilitated very few UK DB pensions transfers, meaning that the exposure to that type of liability is unusually minimal. There is no further UK DB being carried out due to appetite and it is no longer covered by PI Cover.
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Do not share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
Be safe, use a Rightbiz Solicitor
Get Solicitor
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