Case Study: Relocated Financial Planner

The background

John Barnes* moved from the home counties to Devon as part of his longer-term plan towards retirement. After a couple of years of travelling across the country 2-3 times each week for client meetings John contacted Gunner & Co. to discuss his options in selling the business.

The objective

John was looking for a smaller, local firm, based locally to his clients in Hertfordshire.  John looked after the wealth of 110 clients, who each on average had £350,000 invested in pensions and investments.  Clients funds were on Funds Network, and it was important to John that that didn’t change, along with the costs to the client.

Gunner & Co.’s plan

Gunner & Co. researched our exclusive buyer list (85+ buyers nationally) based on John’s objectives to find appropriate matches and identified 3 local buyers which fitted John’s needs in terms of locality, investment approach and client charging structure.  Through discussion, we narrowed that down to 2 introduction meetings, which took place in London.  Louise from Gunner & Co. attended the meetings to ensure John covered all the necessary questions, and because we were meeting small businesses the advisers came along. This allowed John to ensure the cultural fit between the new adviser and his clients would also be there.

The deal

John had a clear favourite, in terms of fit for himself and his clients (he didn’t have any team staying on), and so we deepened conversations quickly.  Gunner & Co. secured John a share purchase offer, at market rate, with an additional consultancy package to remunerate him while he continued to travel to transition clients.

“I didn’t know where to start in finalising my retirement plans. Thankfully Louise & the team at Gunner & Co. worked with me every step of the way to find the right fit and the right deal”

John Barnes, retired financial adviser, Devon.

*Not his real name!