Advice firms are being touted to sell earlier and are increasingly being valued based on profit multiples as opposed to the historic income multiples, according to data by Gunner & Co.
It revealed a major trend of 2020 was the increasing number of investors entering the advice market through a ‘buy and build’ approach – in which the selling firm is still growing and the buyer expects it to continue doing so, often with its principal remaining in place.
Read the full article at FTAdviser.
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