Corbel Partners has made a quadruple acquisition of the firms of retiring advisers. Three of the four acquisitions were internal buyouts from within Corbel Partners network of appointed representatives, while the final purchase was the client bank of a registered individual. The buyouts are supported by Shawbrook Bank.
Corbel Partners’ new buyout strategy – where appointed representatives are eventually acquired – allows both parties to form an organic relationship and opportunity for growth prior to the acquisition, which is often part of a retirement plan for the principal of the vendor.
One of the acquired appointed representatives, Wealth Design, will add 350 clients and £98m in AUM to Corbel Partners, while maintaining the Wealth Design brand.
David O’Hara, co-founder of Corbel Partners, commented: “We have offered budding advisers the chance to grow their firms from the ground up for many years.
“Now, the final piece of the puzzle is giving them the opportunity to sell their business to a trusted internal buyer when the time comes.”
Mr Heath, the other co-founder, added: “Our inception-to-exit strategy offers advisers a non-consolidator option that keeps their firm within the network they’ve known for years.”
Managing director of Wealth Design, David Phillips, spoke with optimism about the buy-out proposition: “I’ve worked with Paul [Heath] and David [O’Hara] for many years now, so when the time came to retire, selling to Corbel Partners was an easy decision. I wasn’t interested in outside relationships – I needed a buyer that I trusted 100% with my clients, and this was it.”
If you are looking to sell your business, find out more about the selling process and how Gunner & Co. can help you, book a meeting with our Proposition Director Josh Lee here.
Gunner & Co. specialise in IFA sales, IFA business sales, retiring IFAs and IFA client bank sales