Funding an advice firm acquisition and what lenders really want to see

Most advice firm owners I speak to know exactly which client bank they want to buy, or which retiring partner they need to buy out. Where they are less sure is how the money side works, and what a lender will make of a business whose main asset walks out of the door every evening. Recurring advice income is something many lenders understand well, but they look at it closely, and a poorly prepared deal can stall at the first credit review.   In my experience, borrowing in this sector tends to fall into a handful of categories. The first is buying a client bank or a whole firm, which...