Retiring IFA - Blog Archives

I made this quick video for you on how telling your staff at the right time and right way is vital to receiving the maximum price

Is Your IFA Exit Quick Or Dead?

“It was like a phantom swooped in at the eleventh hour and killed the deal”

The phantom I am referring to is Time and when it comes to selling an IFA Business, time just isn’t your friend. 

To quicken your business sale is to prepare well, and start in a strong position whilst maintaining that momentum throughout the whole process.

And as a potential exiting IFA Business owner you should be ready for a trip to the marketplace before the train leaves the station, which means getting your house in order beforehand and anticipating potential roadblocks that can delay you in reaching your final destination of a premium offer!

You can click here to download our eBook for more advice on how to quicken the pace of your IFA exit strategy by avoiding the roadblocks that will slow you down

These roadblocks can manifest in several ways such as: 

You don’t know why you want to exit:

Buyers will weigh up the probability of whether they should spend their precious time and funds on you. 

If an acquirer asks “Why are you selling” and you cannot answer them, they will be unsure of your motives. Be prepared for them to walk away. 

You don’t know what you will do after your exit:

Haven’t yet decided what you will do with your new found freedom? If you don’t have your retirement plan in place, you might find you start to get cold feet when that first offer comes along. 

Taking a step back due to not securing your future plans could derail you when momentum starts to pick up.

You don’t know when it is a good time to exit:

So you have been flirting with the idea of selling for a while but have decided to wait for the right time to secure that top price for your IFA business.

Well did you know that over 70% of IFA business owners who decide to wait for that opportune time are still waiting!

To exit earlier than you expected may just be the preferred option, rather than wasting precious time waiting for an offer that you cannot guarantee will materialise. 

You don’t know what your business is worth:

Some retiring proprietors get emotional when it comes to valuing their business because after all, it is their blood sweat and tears that have gone into years of building it up and they put their own price on that.

At the end of the day, you cannot pick a figure out of thin air and expect an acquirer to pay it without the evidence to back it up. If you let your heart rule your head when it comes down to negotiating a price you could end up with nothing. 

Therefore, go into the process, knowing exactly what your business is worth to save precious time!

If you want to succeed in achieving the perfect exit strategy and keep it quick in the process then here are 3 ways I can help:

Claim a free copy of our guide that reveals the five golden rules on selling your IFA Business and advice on how to keep the deal going from Quick to Dead by clicking here. 

Take advice on what your head is telling you. Speak to one of our trained expert consultants who can give you an up to date valuation of what your IFA Business is worth by clicking here. 

And if you are ready to attract top acquirers in the market place then reply to this email with the word ‘Quick’ and I will see if I can help. 

Best Wishes, 

Stephen Hagues

PS. Time spent wishing, is time wasted. Don’t procrastinate, click here to download our eBook on the things to avoid when selling your IFA Business! 

Little Big IFA Lies! 

According to a study conducted by the University of Massachusetts 60% of adults can’t have a 10-minute conversation without lying at least once!

Apparently, those people who did tell lies actually told an average of three lies during their brief chat.

Not big lies in the grand scheme of things, but small and innocent fibs here and there.

The shocking thing is, they didn’t even realise they were doing it!

Most were aghast when they listened to recordings of what they had said… At least that is what they claimed! 

The fact that these lies were so easily told completely knocked me over.  

But when I really thought about it, I came to the conclusion that perhaps it isn’t so shocking!

Because most people spend every hour of every day lying to themselves. 

But what if we cannot be truthful with ourselves. Where will it get us? 

If we can’t be truthful with ourselves there is no way in hell we are going to be truthful to other people and so it poses the question…

What are you lying to yourself about the most?

You need to answer yourself honestly, because being honest has the power to make you really look in the mirror and force you to come to terms with any insecurities you might have. 

So be honest: 

Are you really that happy with the performance of your business?

Does the car you drive, or the house you live in fill you with satisfaction? 

What about the relationships you have with your family and friends, are they fulfilling? 

Are you really dedicated to achieving your goals?

It could be anything but at the end of the day, being honest with yourself is the first step you need to take to change your situation and turn it into something you truly want...

And if what you want is more clients and a considerable and desirable business then you should click here to download our highly recommended eBook on buying IFA firms.   

By investing ten minutes of your time, the eBook available above will share with you the nine factors that accurately predict a firms profit uplift potential so you know which ones are worth investing in.

And if you want to expand your horizons through IFA acquisition then here are three ways I can help: 

Call us! We have expert consultants specially trained to answer all the questions you don’t even know you have on acquiring an IFA firm. If you are ready for guidance and a step by step walk through of the process, click here now. 

Claim your free no obligation guide to buying an IFA firm. This eBook will walk you through how to prepare for your acquisition journey and most importantly will give you the lowdown on the pitfalls of acquisition. 

If you are in the market and want to attract the top accountancy sellers, reply with the word ‘truth’ and I will see if I can help.  

Best wishes, 

Steve Hagues

PS. Don’t lie to yourself any longer! Begin the journey of improving your business through acquisition by clicking here to read up on the five fatal errors made when buying an IFA firm!

IFA: The Scary Unknown! 

Let me lay down an unknown truth…

When I speak to IFA owners about the timeline to kick start their exit strategies, they sound absolute in their response when they tell me they will be ready to sell their IFA business in the following year! 

The typical response of “In the next 12 months”, is usually what follows:

“I am getting tired of being part of the rat race”.

“I am ready to enjoy life” 

“I am looking forwarding to reaping the rewards of a premium offer for my IFA firm”. 

Yet when 12 months has passed and I call them back to check in, I get the exact same lines as I did the year before. 

Believe it or not, this little dance can go back and forth for years without accomplishment. 

So I have to ask myself. What is it about the ‘first step’ into their Retiring IFA journey that is causing them to constantly put it on a back foot?   

And especially when they have given me so many personal outstanding reasons why they are ready to start their exit strategy.

At the end of the day there can be only one reason for such hesitancy, and that is… Fear of the unknown!  

Being afraid is an innate human emotion. It would be worrying if you didn’t have these questions stirring around in your head: 

What if it all goes wrong? 

What if I regret my decision?

What if I don't get the right price?

But this fear of the unknown isn’t a negative thing. Fear keeps your instincts and your senses sharp and primes your mind and body for survival. 

You can face your fears right now by downloading our eBook and learning how to start preparing your business for a premium offer by clicking here now! 

You will always be thinking “what if”, but it is how you handle it that will determine whether you have a successful outcome. 

So will you continue to run scared? Or will you make those fears tremble in your wake? 

If you are an IFA Business owner ready to take the first steps of accepting a cash rich offer and enjoying your freedom then here are three ways I can help:

Claim a free copy of our guide to discover the eight key metrics that determine your business valuation by clicking here now. 

If fear of the exiting process is holding you back or you are just unsure of what questions you need to ask, you can speak to one of our highly expert consultants who can also give you a no obligation valuation of your IFA business by clicking here now. 

And if you want to attract the top buyers in the market but are unsure of how to take the first step, reply to this email with the words ‘No fear’ and I will see how I can help. 

Best wishes,

Steve Hagues

PS. Don’t hold back, click here now and download our eBook to discover the five golden rules to abide by when selling your IFA Business!