The owners' library
Good decisions start
with good information.
Everything written on this site, grouped by subject. Each guide answers one question, cites where its figures come from, and says plainly where the honest answer is that it depends.
40 guides across 8 subjects346 minutes of reading
What your practice is worth
AI-generated illustrative photographStart hereWhat is my IFA practice worth in 2026?See how buyers value a UK advice practice in 2026, why recurring income matters and how a worked example on a £20m book turns a multiple into a sale range.- Recurring income multiples explainedWhat a recurring-income multiple actually measures, why buyers of advice firms price this way, and how the current market average translates into a price.
- The things that raise your multipleSee which features can raise an IFA valuation multiple, from reliable recurring income and client retention to clean records, adviser depth and preparation.
- The things that reduce itThe seven factors that pull an advice firm's multiple down, which ones you can fix before a sale, and which ones you simply have to price in.
- How client age affects your IFA valuationHow the age profile of your client bank shapes what a buyer will pay, why books heavy in over-75s price lower, and what you can do about it.
- IFA valuation: EBITDA or recurring income?Where buyers switch from recurring-income multiples to EBITDA multiples, why the two methods disagree, and what that means if your firm sits near the line.
How firms are sold
AI-generated illustrative photographStart hereYour options when you sell an advice firmThe two ways to sell a UK financial advice firm, a company sale or a client bank sale, and what each means for your money, your clients and your time.- Asset sale or share sale: IFA firmsThe structural fork in every advice firm sale: sell the company or sell the client bank, and how that choice shapes tax, liability and timeline.
- Selling an IFA client bankHow a client bank sale works in practice: the transfer, client consent, what happens to the company shell, run-off cover and who this route suits.
- How a structured asset sale worksHow a structured asset sale to a national acquirer prices a firm, what the transfer period involves, and which owners the route genuinely fits.
- How long a sale actually takesSee the stages of an IFA sale, from initial preparation and buyer discussions to due diligence, regulatory work and completion, and what can delay progress.
- Deferred consideration in IFA salesUnderstand deferred consideration in an IFA sale: when payments arrive, how retention conditions work and which contract terms help protect the unpaid price.
- Earn-outs: questions for IFA sellersRead the questions to ask before agreeing an IFA sale earn-out, including how income is measured, what you can control and how payment disputes are handled.
Tax and timing
AI-generated illustrative photographStart hereWhat your net proceeds actually look likeFrom headline price to bank account: tax at 2026-27 rates, professional fees, deferred payment timing, and a worked example from £600,000 down to net.- Asset sale vs share sale: taxHow the same headline price produces very different net proceeds depending on whether you sell shares or assets, with a worked comparison at 2026-27 rates.
- Business Asset Disposal Relief in 2026Read how Business Asset Disposal Relief moved from 10 to 18 per cent, the 2026 qualifying conditions and what UK advice firm owners can check before selling.
- How earn-outs are taxedUnderstand how an IFA sale earn-out can create tax before cash arrives, why the wording of the agreement matters and what to discuss with your tax adviser.
Liability and run-off
AI-generated illustrative photographStart herePast advice liability after an IFA saleHow liability for past advice survives a sale, who carries it under share and asset deals, and why the FCA will not let redress be left behind.- FCA expectations for client bank salesWhat the FCA expects of firms selling a client bank: ownership proof, redress liabilities, adequate resources and notification, explained for sellers.
- IFA run-off cover: costs and durationHow PII run-off works after you stop advising: what it covers, how policies are structured, what drives the premium and who pays for it in a sale.
- Warranties and indemnities in IFA salesUnderstand warranties and indemnities in an IFA sale, how each allocates risk, and why disclosure, liability limits and time limits matter to the seller.
Getting sale-ready
AI-generated illustrative photographStart hereThe 24-month plan to sell your practiceA working-backwards timetable for selling a UK advice firm: what to fix at each stage from two years out, and what to triage if you have less time.- What IFA buyers ask for in due diligenceThe information a buyer requests at teaser, offer and diligence stage, why the sequence matters, and what having each answer ready signals about your firm.
- How data quality affects your sale priceBuyers price what they can verify. What advice firm buyers test in diligence, what a clean data room looks like, and where poor records cost real money.
- Why deals collapse, and how to avoid itUnderstand common reasons IFA sales fall through, including price expectations, due diligence and deal terms, with practical preparation before buyer talks.
The market
AI-generated illustrative photographStart hereWhy IFA valuation multiples roseSee why average recurring-income multiples for UK advice firms rose from around 3.5x to 4.2x, the dated evidence behind the move and why prices still vary.- Who is buying UK advice firms in 2026The five categories of buyer active in the UK advice market this year, what each pays for, how each structures a deal, and which suits which seller.
- Debt-funded IFA consolidationUnderstand how acquisition debt can affect an IFA buyer, the questions sellers can ask about funding and the FCA concerns behind its consolidation review.
- FCA consolidation review: seller guideThe FCA's October 2025 review of advice sector consolidation reads as a diligence checklist on your buyer. Here is how a seller should use it.
- UK advice deals: February to April 2026Looking back at spring 2026 from August: what the deal data shows, what it cannot show, and what the quarter actually felt like for sellers.
Your people and clients
AI-generated illustrative photographStart hereTelling clients about an IFA saleWhen clients must be told about a sale, what consent and data protection require, how novation works, and why telling them too early is the costliest mistake.- How clients actually transferFollow the practical steps in transferring an IFA client bank, from client consent and new agreements to provider changes, data checks and ongoing charges.
- Clients who will not moveSee why some clients decline a transfer when an IFA practice is sold, how this can affect deferred payments and what sellers can agree before completion.
- Keeping your advisers through a saleConsider how to retain advisers during an IFA sale, address uncertainty about roles and pay, and protect the client relationships that support the deal.
- Telling your staff you are sellingWhen to tell key advisers, when to tell everyone else, how TUPE works in an asset sale, and what a leak or a bungled announcement actually costs.
After the sale
AI-generated illustrative photographStart hereWhen the money actually arrivesSee how an IFA sale price may be split between completion and later payments, how conditions affect the cash you receive and what to check in the agreement.- The first year after completionPlan for the first year after selling your IFA practice: client handover, changes to your role, deferred payments and the agreements that shape daily work.
- Staying on after completionConsider what staying on after an IFA sale involves, from client handover and adviser duties to pay, decision-making authority and an agreed leaving date.
- Restrictive covenants after a saleUnderstand restrictive covenants in an IFA sale, including limits on competing, contacting clients and recruiting staff, and terms to discuss before signing.
- When an earn-out underperformsConsider what to do when an IFA sale earn-out falls short, how to check the calculation and which evidence can help distinguish business risk from a dispute.
Not sure where to begin
If you are early on and would rather be pointed at the right two or three, start here. If you have a specific question, the common questions page answers the ones asked most often, and the glossary defines the terms buyers will use.