Purchasers of IFA businesses are going for a land grab - consultant

Harrison Spence managing partner Brian Spence, a former IFA and fund manager, works with advisers to help them maximise the value of their businesses, and is often involved in pre-sale arrangements. He cautions advisers to do extensive due diligence on potential buyers - and warns some IFAs are being taken advantage of by purchasers, including with promises of a share in the profits if the purchaser floats. "Purchasers out there are going for a once in a lifetime land grab as the Retail Distribution Review (RDR) pushes traditional lifestyle IFAs out the door," Spence said. "Some ad...