According to John Birt of financial planning sector M&A consultant Radar Results, “demand by financial planners looking to buy a financial planning client register or business is at an all-time high” in New South Wales, Victoria and Western Australia.
The most in-demand client books are those with recurring revenue of $100,000 to $300,000, Mr Birt said, followed by “SMSF client bases and accounting businesses”.
Mr Birt made the comments in a statement announcing his company had lodged a submission with Treasury seeking greater clarity on the grandfathering provisions of the Future of Financial Advice reforms, expressing fear over possibly negative implications for financial planning practice valuations.
"It would be nice to have some announcement by the government on this matter, which they had promised prior to the election. Radar Results expects an announcement from Treasury within a few weeks that will resolve this matter once and for all," Mr Birt said.