* 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.
Present Market Conditions
While the full economic effects from the coronavirus crisis remain uncertain, there is no doubt that it has brought economic havoc to our industry which was already facing a great deal of disruption due to the ongoing regulatory and legislative changes.
Adviser Numbers Falling
According to the Australian Securities and Investments Commission (ASIC), adviser numbers have fallen to 20,674, with approximately 2837 practitioners exiting industry last year. I expect this exodus of advisers to continue throughout 2021.
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.
The Government hopes that the FinTech industry will develop Robo-advice to help provide advice to the masses. However, recently several high profile fintech companies have given us a reality check and affirmation that technology-based advice still has a long way to go before its scalable and acceptable to mainstream Australia.
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.
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.