IFA support group Tenet is offering to pair up member firms looking to sell with those seeking to buy after noticing an increase in the number of principals looking to offload their businesses.
The firm, which caters for more than 5,000 individual advisers, says it will assign firms ‘support and development managers' to guide them through the process, adding there is an "inherent benefit" from dealing with firms from the same network.
Distribution and development director Keith Richards says Tenet is seeing an ever-increasing number of members sell, acquire or merge with other member practices, some as a result of proposals in the RDR.
The Review suggests, among other things, changes to firms' remuneration arrangements and higher minimum qualification requirements for advisers.
"The proposed revisions to professional qualifications, remuneration and the definition of independence, in conjunction with prudential rule changes, have seen a large number of IFA firms planning to either evolve their model or exit the industry," Richards says.
"Just one of the areas where the network can assist is in matching potential sellers with buyers and we foresee an evolution for IFA practices to a tradition of continuity and longevity, much as in the legal profession.
"Connecting firms under the Tenet umbrella also provides an excellent basis for both the sellers and purchasers' due diligence."
In addition to two traditional IFA networks - M&E and Interdependence - Tenet also boasts Lifetime Insurance Mortgage Experts (LIME), Tenet Support Services and protection specialist Premier Partnerships.
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