A flurry of takeover activity in the IFA market has again prompted questions as to how buyers of intermediary firms can be sure they are getting a good deal, and vice versa.
The potential merger of Millfield and Inter-Alliance, as well as Aegon’s minority stake in Tenet Group and sale of two Charcol firms to John Scott & Partners all prompt the same question: how do you know if the purchase is a good deal? This appears to be one of the toughest questions to answers in IFA consolidation, because advisers are in a unique position and could still face compensation claims or other requests to prop up a struggling firm once they no longer own it. Moreover, experts in the IFA acquisition market say there is no single formula for assessing what a firm is actuall...
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