Welcome to Connect

Business Growth Strategies Connecting Businesses

Specific Projects

Expert Witness Work

Succession Planning / Exit Strategies

Licensing and Recruitment Advice

Connect Financial Service Brokers Is one of Australia's leading business brokers

The core business activity of Connect Financial Service Brokers is assisting business owners to sell, merge and acquire financial planning, general insurance, risk insurance and accounting practices nationally. We also provide strategic consulting services.

Business Connectors

People Connectors

Idea Connectors

Industry Update

A quick snap shot by Paul Tynan, CEO of Connect Financial Service Brokers:

Present Market

The government will accept 14 of the 22 recommendations made by Michelle Levy who led the Quality of Advice Review (QAR). The three-stage plan for reform includes:
1. Removing red tape
2. Expanding access to retirement income advice
3. Exploring new channels for advice

Financial Services Minister, Stephen Jones announced the second and third tranches of the QAR in December 2023. The government will support the creation of a new class of financial advice providers – to be termed “qualified advisers” across all financial institutions: superannuation funds, life and general insurers and banks.



Adviser Numbers Falling

According to research from Wealthdata, the number of financial advisers in Australia has dropped from 26,500 to 15,511 between 2019 and 2024.
I expect this exodus of advisers to continue throughout the remainder of 2024.





Technology

Many people can recall their first encounter with a groundbreaking piece of technology that transformed the way they lived or worked. For me, it was the thrill of discovering the internet, the iPhone, and now, ChatGPT. While we often take these innovations for granted, they've profoundly shaped our world. And we're only beginning to glimpse the potential of Artificial Intelligence, including ChatGPT, and the ways it will continue to revolutionise our lives.


2022 -2023 Levy

The Australian Securities and Investments Commission has released the indicative levy for advisers in 2022–2023 in its latest cost recovery implementation statement. Licensees that provide personal advice to retail clients on relevant financial products will have a minimum levy of $1,500, plus $3,217 per adviser.



Advice Affordability

Advice is now only affordable to a small minority of Australians and retail advice is not scalable in the current regulatory environment. Advice is becoming an elitist service.



Experience Pathway

The government has released draft legislation to recognise experienced financial advisers. Under the proposed measure, an adviser would be deemed to have met the education requirements if they have 10 years of cumulative experience and a ‘clean record’. Advisers would still be required to pass the adviser exam.

you are in good hands

Business for Sale / opportunities

None of our businesses for sale or current opportunities are listed on our website. We provide a confidential service to our clients who prefer that their privacy is maintained. We use our extensive database and contacts to ‘connect’ people, opportunities, and ideas. If you are looking at selling, acquiring or merging please call Paul Tynan for a confidential discussion about your needs.

Current marketplace valuations

*Please note there are several factors that can reduce a business’s value: key person risk, age of clients, regional location, poor compliance, minority interest.

CURRENT RECURRING REVENUE MULTIPLIES

REVENUE TYPE

MULTIPLE

ADVISER SERVICE FEE

1.5 - 3.0

RISK

1.7 - 3.0

MORTGAGE

2.0 - 3.0

GENERAL INSURANCE

2.5 - 3.5

ACCOUNTING

0.7 - 1.2

CURRENT EARNINGS BEFORE INTEREST TAX (EBIT) MULTIPLES

TYPE OF BUSINESS

MULTIPLE

FINANCIAL PLANNING

4.5 -7.0

ACCOUNTING

4.0 - 6.0

GENERAL INSURANCE

5.5 - 8.0

Paul Tynan is a natural connector of businesses and people. He works passionately to make things happen for his clients, drawing on over 30 years of experience working within the Financial Service industry in Australia and internationally. 

PAUL TYNAN, CEO

BBus (Accounting), GradDipAppFin, GradDipFinPlan

Businesses for sale / opportunities

None of our businesses for sale or current opportunities are listed on our website. We provide a confidential service to our clients who prefer that their privacy is maintained. We use our extensive database and contacts to ‘connect’ people, opportunities and ideas. If you are looking at selling, acquiring or merging please call Paul Tynan for a confidential discussion about your needs.