Advisory firms have just over six months until the Retail Distribution Review (RDR) kicks in and it is widely expected that a significant chunk of the advisory community will sell up and head for the sunset (or a retirement home) before then.
According to Bob Hollis, managing director of Hollis Gore, a company that specialises in preparing companies for sale, it takes about six months to get a company in tip-top condition and ready for sale. This means advisers looking to sell up should start preparing their company now. So what should they do? Hollis explains that tying up loose ends and making a business straightforward is essential. "When looking to appeal to potential sellers, owners need to ensure that their business is simple and completely transparent," he says. Hollis provides five ways in which owners can g...
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