Anyone looking to sell at the moment will know they are in a strong position, with an active number of businesses looking to make IFA practice acquisitions to meet varied growth strategies. However, with a sale typically comes either de-regulation or a completely new way of working, which isn’t for everyone.
An interesting new acquirer I’ve recently started working with at Gunner & Co. is US-based Concierge Technologies, headed up by serial entrepreneur Nicholas Gerber. Concierge Technology is a small public conglomerate passionate about working with entrepreneurs, across all industries. (Nicholas also founded and runs United States Commodity Funds (http://www.unitedstatescommodityfunds.com/) a US$4 billion assets commodity & equity ETF money manager, so is very familiar with the financial services industry)
Their vision is to work with IFA businesses looking to continue operationally, but wishing to crystallise at least 80% of the value of the business, and then work on leading and running the business. A full exit in the long term is very feasible, once a strong succession plan is in place to allow the business to continue to operate.
A proposition like this is rare, and is the perfect set up for someone looking to change the ownership of their business whilst still remaining in role, leading the team and managing the business strategically and operationally. Concierge Technologies would give input to annual strategic direction, but would look to the business leader to execute on a day-to-day basis.
Concierge Technology is regulated in the US by the SEC and trades on the OTC marketed. Nicholas has a goal to raise the value of the business and move onto a major exchange such as the NASDAQ in the next few years. In less than a year, under Nick’s leadership, share value has increased more than 50% http://www.otcmarkets.com/stock/CNCG/quote )
If you are looking to crystallise the value of at least 80% of your business and continue to lead your business strategically, I would seriously consider having a chat with Nick. Drop me a line today and we can take this further: louise.jeffreys@gunnerandco.com
