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Bankhall launches new IFA buyout service

Bankhall is launching a new service to support adviser firms looking to buy up other IFA businesses, as well as those leaving the market.

IFA Exchange, available to members and non-members of Bankhall, will offer expanding firms access to an acquisition consultancy team and provide guides covering the legal and regulatory issues involved.

Advisers can get priority access to firms that are considering exiting the industry through IFA Exchange.

Bankhall says the service will help advisers considering selling their business with guidance on how to develop and prepare an exit strategy. This includes tips on minimising ongoing regulatory and financial liabilities.

It says the online guidance will be free to members and non-members. The cost of the service to buyers will vary depending on size and requirements and those selling their firms can advertise online for £99 for six months.

Sesame Bankhall Group chief operating officer Stephen Young (pictured) says: “In the current environment it is understandable that some advisers are planning their exit route, which in turn creates a wealth of opportunities for business owners who are on the acquisition trail.”

Baronworth Investment Services director Colin Jackson adds: “When the RDR comes in there will be a mass exodus of firms and there will be room in the market for services like this.”

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