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Exchange aims to help with buying and selling IFA firms

Bankhall is launching a new service to support adviser firms looking to buy 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 leaving the industry through IFA Exchange.

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.

Bankhall 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. Sellers can advertise their firms online for £99 for six months.

Sesame Bankhall Group chief operating officer Stephen Young says: “It is understandable that some advisers are planning their exit route, which 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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