Emphasising efficiency, not revenue, makes a business saleable

Despite the uncertainty in the markets in the aftermath of Brexit, merger and acquisition activity among adviser firms has not ground to a halt, and the appetite to buy good-quality businesses remains. But, given the current landscape of low interest rates and the possibility of high levels of gearing, buyers are - anecdotally at least - looking more closely at potential deals and conducting in depth P&L analysis much earlier in the process. It is therefore crucial that advisers wishing to sell their business take every opportunity to add value to it if they are to maximise the sale p...