Practice principals look to acquisitions for growth
Close to 50 self-licensees have registered their interest to acquire existing practices and books of clients on the facility launched by My Dealer Services (MDS) designed to bring advice buyers and sellers together.
MDS’ director, Alex Euvrard, said that although the exodus of advisers was often regarded as a negative on one side, for growth centric practices, it represented an opportunity to facilitate and fast track growth aspirations.
Also, as the cost of providing advice continued to grow, businesses needed started to note that importance of acquisition was one of the one of the ways underpinning their growth.
“We are very pleased by the enthusiastic response during the development of this platform. In particular, as it provides a neutral resource for the principals of financial advisory practices outside MDS seeking to sell their businesses”, Euvrard said.
The platform also offered the availability for business brokers to list their seller client practices on the MDS facility as it did not encroach or impact their arrangements with their client base but represented a further distribution / promotional avenue to promote their advice seller clients.
According to the firm, the new platform also successfully assisted and supported dealer groups and financial advisers to obtain their own licence or establish robust compliance frameworks
“Since inception, our objective via the online resource has been to provide an easy to use, yet confidential and neutral facility bringing buyers and sellers together,” Euvrard added.
“The response received to the MDS online facility has affirmed that the timing and features are right for the new offering.
“With such a positive response by prospective buyers, we are confident that sellers and business brokers will be attracted to the new MDS online facility”.
AUTHOR
Oksana Patron
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