Fintel Services is to launch a programme matching potential buyers with advice firms seeking an exit, with a focus on client continuity and regulatory compliance.
The Affinity Programme will be available later this year to firms using the compliance, technology and business support services offered by Simplybiz and threesixty.
The two businesses support around 45% of the UK’s directly authorised advice firms.
Fintel said the programme had been developed in line with the findings of the FCA’s consolidation review, including its emphasis on scalable compliance, risk and governance arrangements and the management of potential conflicts of interest at acquiring firms.
The service will use Fintel’s data, compliance expertise and industry relationships to assess prospective sellers and buyers before making introductions.
Alex Whitson (pictured), chief executive of Fintel Services, said: “Often succession conversations are informal, reactive, and decided by whoever calls first – not by who’s the right fit. Fintel acts as an independent facilitator for the thousands of firms we support across threesixty and Simplybiz.
“The way we have structured the Affinity Programme helps mitigate potential conflicts of interest, ensuring our focus remains on finding the right long-term outcome for firms and the clients they serve.”
Sellers will receive an assessment of their readiness to exit, which may take place over several years and examine potential changes to the business. Fintel will also provide consultancy on sellers’ client banks and business models before introducing them to buyers that have completed its checking and profiling process.
Prospective buyers will undergo a structured assessment intended to demonstrate their suitability to sellers. They will also receive compliance and due diligence support as they expand.
Whitson added: “Ultimately, the Affinity Programme exists for clients. When advisers retire or firms change hands, clients deserve continuity – someone who will understand their goals, look after them properly and exceed their expectations.
“Too many advisers spend years building something they’re genuinely proud of, then find their acquirer isn’t quite the right fit for them or their clients. The Affinity Programme is about changing that.
“We’re using our scale, relationships, and our independence to raise the bar – for the firms involved and, crucially, for their clients.”
