Adviser M&A dealmaker Roderic Rennison explains why averages do not tell the whole story, and the past is not a guide to the future...
Supposedly, on average, the sale of a financial planning firm on a share purchase basis, (where a Change in Control authorisation is required from the Financial Conduct Authority,) takes 12 months. An asset sale takes less time as there is no Change in Control requirement, typically taking between six to nine months. Yet averages do not bring out the individual aspects of each transaction. Catalyst Partners completed four transactions in the last week of June all on a share basis, (a record we are unlikely to repeat in the near future,) yet these transactions could not have been more dif...
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