Selling up: The importance of due diligence Vicky Pearce and Roderic Rennison Professional Adviser 28 June 2023 Vicky Pearce and Roderic Rennison look at the process of selling an advice practice and highlight the importance of due diligence despite it being potentially ‘intrusive, tedious and stressful’… Have you considered your exit strategy? What will happen […]
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Consolidation market is in a state of flux The past six months has seen significant developments in the consolidation of the wealth management sector. A recent report from EY highlighted that while there had been a record number of deals in the first half of 2023 – 67 up from 55 in the same period of […]
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Roderic Rennison: Having the right data matters more than ever While having the “right” data to run a financial planning business has always mattered, it has recently assumed even greater importance in three primary areas I encounter: the demonstration of good client outcomes (Consumer Duty), building embedded value and maximising the financial outcome from a […]
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Fifty years and counting: Roderic Rennison reflects on lessons from financial services so far From door-to-door sales to the boardroom, to non-exec roles and acquisitions. What follows are my reflections on everything I have learnt along the way, what has changed (mostly for the better) and the challenges that remain. A week after leaving school […]
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Selling up the right way Next Wealth managing director Heather Hopkin’s comments in her recent article for Money Marketing, entitled Selling up not selling out, reflect some recurring themes I experience working with advice firm owners contemplating a sale of their business. These are: The challenge they face in getting under the bonnet of an acquirer’s business […]
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Roderic Rennison: How to get the best from professional connections As a merger and acquisition consultant, one area I regularly reflect on is the way in which we are selected, alongside other professionals such as solicitors and accountants, and then how we are used as transactions proceed. Sometimes, the outcome is not what was initially […]
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Roderic Rennison: Don’t be duped by acquirers A few weeks ago, I met a highly successful financial planning firm owner who had decided to sell his firm to an acquirer who approached him unsolicited with what appeared to be an outstandingly attr1active offer. After some months of negotiation, the deal fell apart when the buyer […]
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Roderic Rennison: So you think you want to sell your firm? Getting a firm’s selling plan into shape significantly improves the likelihood of a successful outcome I spend most of my time engaged with the owners of financial advisory firms talking about their succession plans. Over time, I have come to realise that one of […]
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How to know the time is right to sell your business One of the questions I am most often asked is, “When is the right time to sell my business?” A better question is, “How will I know it is the right time to sell my business?”. But, even then, there is no single answer. […]
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Life after selling your business While much has been written about how to plan for, and then execute the successful sale of a financial planning firm, there is much less guidance and focus on what happens to the shareholders after the sale and the issues to consider and plan for. This article seeks to redress […]
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Roderic Rennison: Selling is not the only succession option Currently, hardly a day goes by without the announcement of the sale of yet another financial advisory firm, yet the sale of a firm is not the only option open to business owners to achieve succession. The owner(s) could pass on the business to their children, […]
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Give your website the attention it deserves Nearly all financial intermediaries have a website; it is has become the norm. However, the way in which websites are perceived by advice firms differs. Some advisers regard it as a necessary chore while others see it is as an important marketing tool that can both deliver new […]
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The debate about working from home versus the office, whether part-time or full time, is an active one
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This document outlines what to expect during a sale process in the FCA regulated space.
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