Revenue Type Recurring Revenue Multiple
Investment and super clients (aged 80 yrs+) 0.8x to 1.0x

Previously 1.0x to 1.2x

Investment and super clients (aged 65 -79 yrs) 1.7x to 2.2x

Previously 1.8x to 2.3x

Investment and super clients (aged up to 64 yrs) 2.2x to 2.7x

Previously 2.3x to 2.8x

Risk clients (under 55 yrs) 2.2x to 2.7x

Previously 2.3x to 2.8x

Risk clients (aged 55 – 60 yrs) 2.0x to 2.3x
Risk clients (aged 61 yrs+) 1.0x to 1.5x
Corporate super plans – commission switched off Negotiable
Grandfathered investment trail commissions Nil

Previously Nil to 1.0x

Mortgage clients – home loan trails 1.8x to 2.5x

Previously 1.8 to 2.2x

Accounting fees – business clients 0.75 x to 1.2x
Accounting fees – individual returns 0.5x to 0.9x

The above multiples can vary depending on the terms offered by the vendor, geographic location of the client, age of the client and the investment products within the client’s portfolio. Multiples paid for risk books or insurance revenue-based practices will vary depending on the client’s occupation, size of premium, type of policy (stepped or level) and geographic location of the client. The multiples displayed above are for high-quality risk clients.

The table above is based on market activity over the past eight months to May 2020.