Key challenges to overcome when selling an advice business today

Everyone knows that the backbone of the New Zealand economy is small to medium businesses. Just to put that into perspective, according to MBIE data, 97% of Kiwi businesses (546,000) employ fewer than 20 people, and they contribute over a quarter of our GDP and 42% of the economic value-add.

Thinking about the financial advice industry and drilling down to those that offer predominantly investment advice, it would be fair to say nearly all would be in this key group of New Zealand businesses.

And, like all small businesses when getting ready to sell their business, the challenge is getting the right price, at the right time and making sure their clients still get the independent advice and service they signed up for.  

David Boyle highlighted in his article last month some of the softer themes that have impacted advisers thinking about getting ready to sell their business, which included: