Take the time to review your client offering – if you find you have anomalies or a lack of structure and process across the organisation now is the time to tackle that.
It could be valuable to look at implementing a standard across the business to give you a clear framework to work to.
If you have delivered advice in areas that may be considered high-risk, such as defined benefit pension transfers or film schemes, the best thing you can do is have an external compliance specialist with M&A experience undertake a review and implement remedial work.
Doing this in advance of coming to market gives you the chance to rectify areas of concern.
What to do now?
Set your objectives and validate them externally – Gunner & Co offers free market overview calls for this purpose.
Review your company structure with an experienced accountant with a sale in mind. There are many tax-efficient structuring opportunities available when put in place significantly in advance.
Segment your client base. Everyone has clients who they love but make very little profit on. Carrying out a thorough client segmentation exercise will not only help you understand where your business is at now, it will also help you adjust your proposition to be more attractive for sale by focusing on quality professional relationships.
Commit to intergenerational planning. Your client segmentation should uncover where you have ageing clients – secure the long-term value by bringing in the next generation.
Improve efficiency, cut out unnecessary costs and improve turnover – particularly recurring turnover. Remember the importance of profit as well as turnover for future valuation.
Louise Jeffreys is managing director at Gunner & Co
