Selling your
advice business
You only have one chance to get this right, so we want to give you the opportunity to discover whether Finli is the right solution for you and your clients.
Our approach
From experience, a successful exit is achieved when the priorities of the seller and the acquirer are aligned:
- Where the culture is right
- Where client interests come first
- Where there is transparency and honesty
We want to work with like-minded business owners, providing them with an exit solution which allows them to retire with confidence.
Your acquisition journey
We understand that selling your business is not an easy decision or one that you don’t want to rush. You would have spent many years building brand and creating positive relationships with your clients who trust you.
Step 1 - Find out more about you
We understand that selling your business is not an easy decision or one that you do not want to rush. You will have spent many years building a brand and creating positive relationships with your clients who trust you.
The first stage is for us to find out more about your business to have sufficient information to enable us to have substantive discussions with you.
Typically, we would be interested in understanding:
- The background to you and your business
- Your business model
- The services that you provide to your clients and the fees you charge for them
- The systems and processes that support your business
- Your investment process
- Your future intentions, the role you would like to play going forwards especially in relation to the transfer of clients
We believe it’s essential for both parties to be aligned in terms of their culture. Our approach is simple; we put your clients first. To determine whether Finli is a good fit we want to get to know you and for you to understand how we operate.
Step 2 - How we structure acquisitions
Finli can facilitate your exit via three different solutions. Each has different considerations in terms of timescales, costs, complexity and tax efficiency.
| i) Share Purchase Agreement | This arrangement is the most complex type of transaction where we are purchasing the shares of the limited company registered as an authorised firm by the FCA or your holding company. We acquire the entire company including all its assets and liabilities, including historic advice liabilities, which means the consequent due diligence undertaken is substantial, which is why the process can take up to 6 months to execute and can attract considerable legal fees. The valuation methodology is based on a multiple of the firms recurring revenue over the last 12 months. In terms of transaction structure our standard terms are a 2-year acquisition with the deferred consideration period, with 50% paid on completion and 50% after 24 months, allowing for a 12-month review to the end of the 24-month period. |
| ii) Asset Purchase Agreement | An asset transaction is less complex than that of a share transaction as we are only acquiring specific assets e.g. an agreed cohort of clients with associated recurring revenue not your firms’ historic liabilities. As a result, the due diligence process is lighter touch than a Share Purchase, the associated legal costs will be less and the time scales to complete the transaction are shorter. As with a Share Purchase the valuation methodology is based on a multiple of the firms recurring revenue over the last 12 months, but we pay a higher multiple due to the fact we are not acquiring past liabilities, and the acquisition costs are less. Standard terms are a 2-year acquisition with the deferred consideration period, 50% paid on completion and 50% after 24 months, allowing for a 12-month review to the end of the 24-month period. |
| iii) Client Transfer Agreement | This approach is a derivation of the Asset Purchase Agreement but entails the onboarding of each client individually to Finli through the signing of new terms over an agreed time frame (typically 3 months). This type of commercial arrangement means that due diligence will be a lighter touch still, completion timescales are similarly shortened and legal costs will be the least. Once again our valuation methodology is based on a multiple of the firms recurring revenue over the last 12 months, but this arrangement will attract the highest multiple due to lower acquisition costs and dealing with a known quantum of transferring clients. Upon completion of the new Finli Terms of Business during the agreed handover period, then an initial 50% consideration is paid with the remaining 50% consideration paid just 12 months later once a review of the income has taken place. From experience this type of arrangement logistically has a natural ceiling in terms of the number of households that can be seen within a three-month period. |
Step 3 - Provide an indicative valuation
To secure an indicative valuation we will need you to sign a non-disclosure agreement (NDA) to ensure the privacy of your clients. This facilitates the sharing key client metrics, such as age, location, Investment Type, Wrapper, Platform and Product Prover, Amount of Assets and Ongoing Advice Charge. This will enable us to assess the value of your clients and their associated revenue.
Step 4 - Issue a Non-binding Offer (NBO)
Following the assessment of your client data we can issue an NBO which details the provisional valuation that Finli places on your business which will depend on the type and shape of transaction that we have discussed, we will also highlight any conditions and stipulate a period of exclusivity allowing both parties to explore further.
Step 5 - Mutual Due Diligence
This period allows both parties the opportunity to validate the information that has been shared to date, so that we can both move forwards in confidence that our interests are aligned.
Depending on the type of the acquisition the level of due diligence conducted will vary
reflecting the legal undertaking of the transaction, typically as a minimum the following would be carried out:
Your Client Data and Financials | Detailed assessment at a client level of the policies and associated income so we can capture all the pertinent financial information underpinning the valuation of your business, both in terms of the payment of the initial consideration but also going forwards to support the payment of the deferred consideration. Ultimately, this process would be a key component of the client transition plan agreed in advance with you, so that the clients feel at home as quickly as possible. |
Your Advice Process | We want to understand your advice process; how you onboard new clients, what happens during a client review and how this aligns with the Finli client experience. |
Your Client Proposition | Understanding your client proposition and what you charge for said services is fundamental to smooth transition of clients from your business to Finli. Our goal is to minimise disruption for clients, working with you to provide them with the confidence that they will be supported by Finli as well as you did. |
Regulatory Framework | We are happy to share with you how we are supporting the four key components of Consumer Duty, or any other regulatory requirements, as we are keen to learn about the processes you have in place to meet your regulatory responsibilities. |
Vendor Engagement | We like to provide you with the opportunity of speaking with business owners that have gone through or are going through the acquisition process with Finli. This will help to validate what you’ve been told and provide you with some useful tips to help you with your sale. |
Step 6 - Issuing the legal agreement
Our lawyers will then issue a formal legal agreement, the complexity of which and timescales involved will vary depending on the type of purchase. Typically, an asset purchase will take 2 months compared to a share purchase which is more likely to take 6 months.
Step 7 - Client Transition Plan
Putting your clients first is central to a successful transaction, which is why we want to agree and build out a transition plan that recognises this simple fact.
We will map out a communication and engagement strategy that provides you with the comfort that your clients will be assimilated into Finli on an individual basis, working closely with the new adviser you will be invited to support client introductions / handovers and attend subsequent review meetings if you feel it is required.
Since acquired clients are looked after by employed advisers, we can control the handover of clients in a seamless and managed way, ensuring they have positive experience and are not concerned about your retirement.
From experience, when clients are aware of your retirement plans and the effort you have invested in finding the right partner going forwards, then they feel part of the process and client retention is improved.
Step 8 - Purchase Completion
We know that you may not have previously been through an acquisition and you may have questions about how your acquisition may look.
To help this, we’ve created a handy guide to help answer our frequently asked questions. To access it, simply click on the button below. If you have any further questions, please reach out to us and our team will be more than happy to help.
7 key steps to prepare for your exit
As a business owner, you’ve worked hard to build something valuable but when it comes to planning your eventual exit, knowing where to start can feel daunting. Many advisers and business owners worry about maximising value, finding the right buyer, and making the transition smooth for clients and staff.
To make the process clearer and more manageable, we hosted a webinar breaking everything down into simple, step-by-step guides. For your benefit, please use the button below to watch the recording and learn more about how to prepare for your exit.
Our acquisition stories
Get to know our acquisition team
James Bryce Chief Acquisitions Officer
James set up his first financial services business over 30 years ago and for the past 15 years has successfully acquired in excess of 50 businesses, ranging from one-man bands to multi adviser businesses. In selling his business to the Finli Group in 2022, James has also experienced the acquisition process from the other side, so is uniquely placed to give straight talking advice of the process and pitfalls to be avoided, given you only get to sell your business once.
When selling your business you need the right partner that shares the same ethos as you in respect of clients, as ultimately a happy client ensures retained value of your business. James is responsible for Finli acquisition strategy and delivery.
Jon BarhamAcquisitions Director
Jon has over 30 years of experience in industry, having worked for several leading financial services firms playing a pivotal role in recruitment, proposition development, and commercial strategy.
He is committed to helping IFAs secure their exit. Finli has the flexibility and resources to shape mutually beneficial transactions whilst providing the Vendor with the confidence that their clients will continue to receive independent personalised financial advice.
Transparency and honesty is a fundamental personal tenet which underpins his engagement with business owners at all stages, Jon wants the Vendors of today to be advocates of Finli in the future.
Katie HawkerHead of Acquisitions
With over 26 years in financial services, Katie has built a broad and deep understanding of the industry. She’s worked in all parts of the advice chain (admin, paraplanning and advising) through to leading large operational teams and managing complex change programs. Her experience spans both large corporate firms and smaller bespoke IFA businesses, giving her a well-rounded perspective on the challenges and opportunities within the sector.
Katie brings a structured, detail-oriented approach to her work, a background in project management and operations ensures efficiency, while hands-on experience allows her to navigate both strategic and practical elements of business transitions.
In her role as Head of Acquisitions at Finli Katie manages the full journey from vendor engagement through to completion, working closely with you to ensure you are fully supported throughout the process.
Gavin StaceyRegional Director of Acquisitions
Gavin has worked in financial services since 2005. He has been involved in multiple mergers & acquisitions in the financial services sector over the last 15 years.
Gavin is also a qualified Chartered Financial Planner.
Outside of work, he enjoys playing football, watching all kinds of sport, and spending time with his family
Sara BundeyAcquisitions Manager
Sara started working in a small IFA firm over 20 years ago doing everything outside of advising. When this firm was acquired her education in accountancy and law was invaluable in managing the due diligence process from the vendors perspective. This ultimately secured her role as Acquisition Manager, and she has now been involved in the acquisition of more than 50 business.
Each acquisition is different. At the centre is a person making tough decisions and striving to do the right thing for their clients, all whilst managing the daily pressures of their business.
While we have been through this process many times its important to remember that you haven’t. We are here to guide you through and make the process as simple as possible.
Luke O'BrienSenior Acquisition Analyst
Luke started his career in financial services in 2018 after earning a 2:1 BA (Hons) in Business Studies at Liverpool John Moores University. Since then, he has built up a wealth of experience in IFA acquisitions and has successfully acquired over 50 businesses, from national advice firms to local IFAs.
He takes pride in helping vendors achieve a smooth and rewarding exit that benefits them and their clients. He believes the foundation of every successful acquisition is accurate data, which captures the true value of a client bank.
Luke understands that every financial advice business is unique, with its own ways of working and challenges. He appreciates that for many vendors, the thought of organising and presenting client data for a potential sale is daunting.
That’s why he takes a supportive and pragmatic approach, guiding vendors through the process with clarity, patience and expert guidance.
Henry Noot-Davies Acquisitions Analyst
Henry has two years of experience in financial services, complemented by an additional two years specializing in data analysis. A First-Class BSc graduate in Business and Economics from the University of Salford, he has played a key role in the successful completion of over 30 acquisitions.
With a meticulous and structured approach to data management, Henry ensures the accuracy and reliability of financial data which is critical for determining the true value of client banks and securing fair, transparent valuations.
Beyond pricing, clean and precise data is essential for a seamless client onboarding experience. Henry is dedicated to maintaining data integrity, ensuring a smooth and efficient transition into Finli for client onboarding.
James Leavy General Counsel
James is Finli’s General Counsel and has nearly a decade of legal experience across private practice and in-house roles. He began his career in private practice, including a one-year secondment to a leading Middle Eastern bank, and has developed deep expertise in corporate and commercial law.
His experience includes advising on mergers and acquisitions of all sizes, acting on both the buy and sell sides, across a range of sectors and jurisdictions.
At Finli, James plays a key role in shaping business and acquisition strategy, managing legal risk, and ensuring regulatory compliance. He works closely with vendors and their legal representatives to deliver clear, commercially focused legal solutions to the benefit of all parties.
David OsonowoJunior Acquisition Analyst
David holds a 2:1 BSc (Hons) in Philosophy, Politics and Economics (PPE) from the University of Warwick. During his studies, he gained a year of experience in financial services at global asset management firms, where he developed practical skills in allocating and managing financial resources across a diverse range of investment vehicles and asset classes
With a commitment to upholding data integrity throughout the acquisition process, David provides necessary analytical support that drives precise valuations and well-structured transactions. His diligent approach ensures each deal is grounded in robust financial analysis and aligned with long-term growth objectives.
David is passionate about creating value through well-orchestrated deals that benefit all stakeholders. He combines rigorous analysis with clear communication, helping vendors and clients navigate the complexities of the acquisition process with confidence and clarity.
Contact our team
Our team are here to help at every stage of your business sale. Please use the information below to get in touch with our friendly team or send us a message using the contact form.
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