You’ve worked for years to build your IFA firm; shedding blood, sweat and tears to make it a success. After all that, selling your business is understandably a huge decision. Claire Spillane, Acquisitions Director at AFH Wealth Management, a firm that has been successfully acquiring IFA firms for more than 20 years, lifts the lid on what really happens when IFAs sell their business to an acquirer.
"Originally from a legal background, working as a solicitor in the corporate sector, I’ve been with AFH since 2014; working to facilitate seamless acquisitions with IFA firms who are ready to take the next step in their careers. Whether their goal is to grow the business with the support of a multi-billion-pound wealth management firm, or to simply enjoy their retirement, we can tailor a deal to the specific needs of the vendor.
I’ve seen first-hand just how important this life-changing decision is to IFA-owners, and the decision to sell comes with many unknowns, so I’m going to give you a behind-the-scenes look at what really happens when you sell your firm to an acquiring business – and if you ever find yourself in a similar position – how to make it a success.
Our five-stage acquisition process
Every acquisition is unique, but after working in acquisitions for over a decade – for a firm that’s been acquiring companies for more than two decades – we’ve been able to hone the process to make it both smooth and mutually rewarding.
The steps you would expect to take if you embarked on this journey with AFH are as follows:
- Initial conversations – With a dedicated acquisitions team leading the whole process, you’ll get to know our experts well. We see this as an opportunity to find out some of the key factors that will guide the process should you be interested in selling to us. As well as the overarching details of your firm, we’ll ask about your objectives, your hopes for the future, and vitally, your company values. Acquisitions are a two-way partnership, so this is the perfect opportunity to ask any questions about us. See it as a fact find for both parties.
- Discovery Day – This is your chance to come and see how we operate live and in-person! Although AFH has financial advisers based nationwide, our head office is in Bromsgrove, Worcestershire, and we want all our acquisitions to visit so you can meet the team, understand the culture, ask any questions, and see first-hand what life at AFH is really like.
- Due diligence – This is when we get into the detail. Due diligence is critical to ensure the acquisition is right for both of us. This will include information such as recurring revenue, debt and liabilities, regulatory and compliance checks, client demographics and corporate structure. We’ll ensure our expert team does this collaboratively with you, offering all the support we can.
- Agreeing the finer details – Our team will work closely with you throughout the process to agree the details, aligning to both parties’ needs. We take the time to provide tailored solutions that benefit both advisers and, crucially, clients. We will always offer a fair deal, but we know it’s about more than just the money, so we are willing to create a bespoke deal that’s right for you.
- Completion date – Welcome to the AFH family! In reality, this is just the beginning of the journey. With decades of experience and a team of dedicated professionals, we’ve created seamless systems and processes designed to ensure a smooth transition for your business and clients. We recognise the importance of providing continuity to clients, and delivering the care and service they deserve.
What makes a successful acquisition
Over the past 20 years, AFH has acquired over 125 firms, and although every one of those has been different, there are some common themes that always help contribute to a successful acquisition.
The first, of course, is that our values align. What does this mean? If IFAs share our client-focused approach, and our commitment to offering good financial advice, that’s a solid foundation we can build on. Transparency, integrity, trust and respect are all vital to AFH, and we want to work with firms that share those beliefs.
Honesty and transparency are crucial during the process. We are honest with IFAs and expect the same in return. If there’s anything that should be disclosed, it’s better that we are informed early in the process, so we can discuss options and work out how to deal with any potential issues.
Another important factor is putting aside the time and resources to work on the acquisition. Although we’ll provide all the support we can, we will need information and documentation from you to complete a deal, so you need to be prepared to play your part.
What IFAs tell us about being acquired
Earlier this year we conducted a survey with advisers who joined AFH via acquisition, and the results revealed some interesting insights.
It came as no surprise to me that the most important thing IFAs want when selling their business is a buyer that will be committed to their clients. 88% of acquired IFAs who responded to our survey said a commitment to clients by an acquirer was important to them.
After years of building relationships with their clients, and advising them through key moments of their lives, IFAs want to make sure their clients are well taken care of following the sale of their business. Acquirers need to do everything they can to support acquired clients, as well as any advisers who may join the company. This has been a huge focus for AFH, and a key factor in why we’ve been able to acquire so many firms – and serve so many clients – over the past 20 years.
Other results that came from the survey included that 75% of respondents considered it important to find an acquirer with the right cultural fit. When it came to their worries, 75% of respondents told us client retention was their biggest concern.
More than just the money
When we talk to advisers who are interested in selling their business, although offering a fair price is hugely important, and the right thing to do, we always tell them to think about the things that money can’t buy: experience, trust, and a truly client-focused approach.
We know there’s no ‘one-size fits all’ approach to acquisitions, and although there will of course be similarities between different businesses, it’s vital to treat each IFA as an individual case, taking the time to understand how their business operates.
We’ve gained the experience needed to support a variety of IFA firms, from small to big, young to old, and with a wide range of objectives.
If advisers choose to stay with us, they’ll benefit from the support, resources, and infrastructure they need to grow their business. If they decide to retire, they can be confident their clients will be cared for with the respect they deserve.
If you’re looking to do business with an experienced acquirer that will work hard to preserve the integrity of your practice, please do get in touch by visiting afhwm.co.uk/truth or emailing me here acquisitions@afhgroup.com."
Claire Spillane
Acquisitions Director
About Claire
As AFH Wealth Management’s Acquisitions Director, Claire is responsible for all Group Company acquisitions. In her role, she oversees all projects from the initial stage, through to due diligence, contracts and completion. She is a highly skilled expert in facilitating seamless business transitions and prioritising long-term success. Claire qualified as a solicitor in 2010 and specialised in the corporate sector, before joining AFH in 2014.
Monday 7 July 2025