A successful adviser, based in Robinvale (VIC) who has been in the industry for 18 years plans to retire due to a health situation in the family. The business is mainly risk and personal super.
The main product providers are:
Insurance premium income is about $50K pa. FUM is $14 million. Gross income for 2017/18 was $140K. After AFSL split and PI, nett income was $108K.
There are some 1,500 names in the register. Approximately 50% of the clients are in the Sunraysia area, 45% are located in Melbourne and the balance interstate.
The make-up of the client base is PAYG, Professionals, Rural businesses, Retirees, Accumulators, Mums & Dads and Tradies.
The clients’ age brackets are roughly:
The owner is the sole employee and manager of the business.
Fact finding has not been done for many of the clients for some years now due to a family health issue of the owner. The following are the opportunities for reviews:
- Convert stepped premium to level
- Convert upfront commission to level or fee for service
- No trauma cover written in last 4 years
- Cross generational referrals
- Super amalgamation opportunities
This is an ideal opportunity for someone looking to acquire a client base that has a good relationship with a caring professional, that needs reinvigorating.
The vendor is willing to talk attractive terms with amajor upfront investment, reasonable handover protocols and standard run off provisions on a WIWO basis.