Buying or selling an IFA or wealth firm? We specialise.
Financial services M&A is not generic M&A. Recurring revenue, client suitability, FCA permissions and TCF carry weight that generalist brokers routinely miss. We have built our practice around it.
Why FS is different
A practice is not a plumbing business.
Recurring revenue is the asset
Multiples are driven by ongoing fee income, persistency and client demographics — not headline turnover.
Client suitability matters
TCF, vulnerability and centralised investment proposition alignment are diligence items, not afterthoughts.
FCA permissions take time
Change in control approvals and Appointed Representative transfers run on FCA timeframes. We plan for it.
Lock-ins protect value
Earn-outs, deferred consideration and adviser tie-ins are structured to protect both sides through the transition.
Typical deal structures
Four common shapes — and the trade-offs.
Cash + earn-out
Typically 60–70% on completion, balance over 24–36 months against client retention.
Equity rollover
Principal rolls equity into the acquiring group, often with future liquidity event.
Client book purchase
Asset-only acquisition of the recurring book, with the seller retaining the entity.
Network consolidation
Whole-firm acquisition into a larger network or national brand.
Recent transaction profiles
Anonymised. Indicative. Representative.
IFA · South-East
£1.4m recurring
Sale to consolidator, 4.1× recurring, 70% cash on completion.
Wealth · London
£3.8m recurring
Equity rollover into national brand with three-year earn-out.
Planning · North-West
£780k recurring
Book purchase by neighbouring firm, principal retained as consultant.
Find out what your practice is really worth.
Indicative valuation in 60 seconds, calibrated to recurring revenue, client demographics and your CIP.