Case Study: Working against the clock

IFA Sales

The background

G&T Financial Planning had been looking at selling their business for more than 18 months.  In fact, at the point they approached Gunner & Co. they had just turned down a buyer, after spending 9 months deliberating and negotiating a heads of terms document, which eventually fell down at the contract stage.

The objective

With a team of 4 directors, exit planning had been a key topic for some time for G&T Financial Planning – they understood the importance of having a clear plan that could meet everyone’s aspirations.

They were looking for a buyer who could take 2 directors on, along with the advisor team, allowing 2 directors to retire.  However, time was of the essence – 9 months had been lost trying to make the wrong deal fit.

Gunner & Co.’s plan

G&T Financial Planning set about speaking to business brokers, and Gordon called Gwill at Gunner & Co.  Understanding the urgency, we did initial desk-based research within the day and called Gordon back with some suggestions.  They hadn’t spoken to any of these companies, so working together we drilled down to a few options that could meet their varied needs.

We set up three introduction meetings back to back in London, and quickly identified a clear fit with a large independent national, whose preference was to have as many original advisors stay on as possible.

The deal

So much of the deal came down to matching the varied needs of 4 individuals.  The price came in over market rate, purchasing the full business, but just as importantly opportunities were identified for the remaining directors, with appropriate salary levels, along with keeping the continuity of client to adviser relationships for all of the clients.  The investment approach gave clients additional opportunities in terms of both performance and fee savings.

From the initial call, the deal was closed within 9 months.

 “When I called Gunner & Co. we were all a bit fed up.  However Gwill took control immediately and identified credible buyers we had never heard of.  I finally got to retire, which was looking questionable before I made that call” Mark at G&T