Seven golden rules to buying an IFA practice

  1. Buy the assets, not the liabilities Most IFAs will want you to buy their company so they can get entrepreneur's relief and pay just 10% tax. That can mean buying the liabilities. Yes, buy the limited company, but make sure the contract excludes liability.   2. Ensure you have the capacity and discipline to do due diligence Even the biggest companies make mistakes. It is not our place to point the finger or gloat, but there are many well documented recent stories of household brands making costly errors of judgment when on the acquisition trail. We can all let strategi...