Assessing client bank value in the sale process

For many financial planners approaching retirement or succession, the sale of a client bank is the culmination of years of relationship building. Yet a crucial question sits at the heart of these transactions: who actually owns the value being sold? Where a financial planning business operates through a limited company, it is often assumed that the client bank belongs to the company. However, recent case law has highlighted circumstances in which some or all of that value may belong personally to the adviser who built and maintained the client relationships. The answer can have signif...