{"id":2076,"date":"2024-01-31T15:18:53","date_gmt":"2024-01-31T15:18:53","guid":{"rendered":"https:\/\/www.gunnerandco.com\/?post_type=insights&p=2076"},"modified":"2024-02-23T10:14:12","modified_gmt":"2024-02-23T10:14:12","slug":"what-should-i-look-out-for-in-a-good-broker","status":"publish","type":"insights","link":"https:\/\/www.gunnerandco.com\/insights\/what-should-i-look-out-for-in-a-good-broker\/","title":{"rendered":"What should I look out for in a good IFA broker?"},"content":{"rendered":"

This is the first of a series of monthly FAQs where we will dive into some of the most common things we get asked on a day-to-day basis.<\/p>\n

The question of the month is – What should I look out for in a good IFA broker?<\/strong><\/h2>\n

When it comes to selling your IFA or financial advice business, choosing the right broker is a critical decision that can significantly impact the success of the transaction. Here are four key elements to consider when evaluating potential brokers:<\/p>\n

Market Knowledge and Connections:<\/h3>\n

A reputable broker should possess a deep understanding of the market and have extensive connections. Their ability to guide you on the right positioning for your business and their network of relationships can make a substantial difference in finding the best acquirers suited to your needs. Additionally, they should be able to identify and have solutions for any challenges specific to your firm that may come along during your journey to sale. Look for proof points such as the number of successfully completed deals, references and feedback from previous clients, and a comprehensive understanding of the feasibility of your objectives. Beware of brokers who rely on unnamed case studies and testimonials \u2013 transparency is key.<\/p>\n

Open and Honest Communication:<\/h3>\n

Transparency is crucial during a business deal. A good broker will provide a balanced perspective, highlighting both the positives and negatives. As the intermediary between you and potential buyers, your broker should not sugarcoat information. They play a pivotal role in asking the difficult questions that can protect your relationship with the buyer. Confidence in your broker’s openness is essential, ensuring you have a trustworthy advocate throughout the deal.<\/p>\n

Timing is Everything:<\/h3>\n

Timing plays a crucial role in maximizing the value of your business during a sale. Be cautious of brokers who push for a quick sale without considering your best interests. Any sense of pressure, such as demanding follow-up meetings before closing the initial call, should be viewed as a red flag. A good broker takes a long-term view, helping you execute the right plan for your business rather than pushing for a hasty decision.<\/p>\n

Confidentiality:<\/h3>\n

Maintaining confidentiality throughout the selling process is paramount. Enquire specifically about how a broker handles sensitive information, including when and how they release details about your company to third parties. Ensuring strict confidentiality safeguards protects your business and prevents potentially harmful leaks. Don’t assume all brokers have the same stringent confidentiality measures in place. The last thing you need is for competing firms or clients to get wind of your intentions to sell before you are ready to present a controlled message.<\/p>\n

 <\/p>\n

To delve deeper into these considerations, join our next webinar on February 8th here<\/a>.<\/em><\/p>\n

If you are looking to sell your business, find out more about the selling process and how\u00a0<\/em>Gunner & Co.<\/em><\/a>\u00a0can help you. Book a meeting with our MD Louise\u00a0<\/em>here.<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is the first of a series of monthly FAQs. The question of the month is – What should I look out for in a good broker?<\/p>\n","protected":false},"featured_media":1318,"template":"","insight-category":[21],"insight-tag":[],"acf":[],"yoast_head":"\nWhat should I look out for in a good IFA broker? - Gunner & Co<\/title>\n<meta name=\"description\" content=\"This is the first of a series of monthly FAQs. 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