1 in 4 Valuations Lead to a Sale
The number of financial planners who have approached Radar Results wanting to sell their business has increased by 50% from January 2009. We had 42 practices for sale in January and now have 63 serious sellers. Based on fee revenue and purchase numbers, the last quarter (July to September) was Radar’s best ever result.
Michele Conroy, Operations Manager and part owner of Radar Results expects nearly 100 practices to be purchased by Radar clients during 2010. Michele said “that’s about 20 practices per office per year, not allowing for the new office that will shortly open in Perth.”
The number of valuations provided to the financial planning industry by Radar Results has been lower than compared to the same period last year, although for the last 3 months the rate has picked up to 15 valuations per month. This is a good barometer for increased activity in the FP buying and selling sector from now till Xmas.
Since commencing business in 2005, Radar Results has prepared 319 valuations of which 118 have indicated they wish to sell in the next 1-3 years. Our records indicate that for every 4 valuations we do a sale is imminent with the transaction usually taking place within a 3 month period.
Interestingly, this year, several of our buying clients “turned around” and actually sold their financial planning business internally to another Radar client. This is somewhat rare and suggests the pressure the planning industry has been under for the past two years, effectively turning buyers in sellers.
New Sydney Office – Mosman NSW
Introducing our New Associate – Patrick Walford
Patrick has over 10 years experience in the financial services industry in a variety of middle management, practice management and operational roles. Patrick was responsible for the support and growth of a national
financial planning group, helping its advisors achieve their business goals. This included the development and implementation of a tailored and structured Practice Management Program.
Most recently Patrick was responsible for building a vibrant financial planning division within a multi-disciplined Sydney practice. He was also the State Manager for this leading national financial planning group.
This skill and knowledge of the planning industry will help Sydney based clients of Radar Results.
To contact Patrick Walford please call 0423 867 994 or email patrick@radarresults.com.au
