Bright site targets advisers set to quit
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IFA consolidator Bright Financial Services has launched a website detailing its acquisition process for IFAs considering leaving the industry.
The website went live last week and has been designed for advisers thinking about selling their firm rather than meeting the RDR requirements.
Bright director Ian Craddock says: “The website provides background detail as to the steps any vendor needs to take and provides IFAs with an opportunity to talk to Bright to establish if we are a potential solution for their retirement goals.”
Bright has acquired a total of 29 IFA firms since it was set up in 2003, five of which feature as case studies on the website.
The website breaks down Bright’s acquisition process, including how firms are valued, how the purchase is likely to be structured and the firm’s due diligence process.
Bright bought three IFA firms in August, including Burnley IFA Boway Financial Solutions, Cumbria IFA Ulverston Financial Services and Pecunia. The company is aiming to complete a further six deals by the end of the year.
IFA services provider threesixty took a minority stake in the business in April 2009.
Baronworth Financial Investments director Colin Jackson says: “If the regulator continues not to allow grandfathering, there are going to be 60-yearold advisers who will not retrain for the RDR. Retirement will be one of their options and this website may be a useful tool for them.”
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