INTRODUCTION

At Transact we understand that succession is a significant challenge for most business owners. The range of options, complexity and divergence of commercial interests can result in significant wasted time and unintended consequences. Whether buyer or seller, you want to get things as right as possible first time.

That’s why we built our service. Since launching in 2016 we have helped to inform, connect and facilitate transactions between like-minded sellers and buyers who are interested in securing the right future for their clients, staff and themselves. Where a common objective is shared between the parties involved, we have found that the success of the transaction has been rewarding for all. We have built resources to help you on your journey on either side of the fence and gained some unique insights into what makes good introductions for users of our platform.

While initially our service was aimed exclusively at Transact users, we have broadened out the service to include help and support in the acquisition of businesses that do not use our platform.

Why is Transact doing this?

Succession planning can be difficult in the adviser market, because it’s:

• Easy to leave it too late
• Hard to meet a like-minded firm
• Even harder to arrange finance if required for the deal.

There is also a:

• Lack of experience in structuring MBOs
• Lack of experience in buying/selling firms.

Consolidators and vertical integrators have seized upon this opportunity, but many independent advisers (especially Transact users) seek a deal with a like-minded independent firm. This naturally led to advisers asking us to introduce them to other Transact users in order to secure a safe onwards passage for their clients, or business, when they come to think about retirement options.

Due to the growing demand, we decided to formalise our intra-Transact Succession Planning service.

We have established a confidential service where Transact advisers can record their interest as a buyer or a seller.

Registration is straightforward and requires the completion of a form in order to provide us with some initial details such as:

• Whether you are a buyer or a seller
• Your funds under advice
• Your adviser fee charging structure
• Your investment approach
• The systems you use to run the business.

We then ‘match’ your requirements with those of other firms.

And, for the avoidance of doubt, we always keep the names on our database confidential.