The owner and wealth advisor of a very successful and lucrative investment and insurance practice based in the Western Cape, South Africa, is looking for a young strategic business partner as part of his succession planning for retirement over the next 2-3 years. As the new owner of this business, you will have an exclusive IC agreement with Discovery and you will benefit from a very lucrative value proposition with Discovery.
You will own a business that has built a successful portfolio of over 500 clients and ±1000 contracts over the past 12 years. The portfolio has shown continuous, consistent, and sustainable growth over the past 12 years. You will own a database of national clients based mainly in the Western Cape Region, and international clients based in the US, Germany, Canada, Greece, etc. You will have many high-net-value individuals and ultra-net-value clients.
Assets under management ± R300 million.
Your focus will be on wealth creation (investments). You will exclusively offer the full range of Discovery products - investments, life insurance, medical insurance, RAF, etc. Most of your clients will be integrated with more than one Discovery product.
You are the ideal strategic partner if you meet any of the following criteria:
• You are a wealth specialist with some good wealth knowledge. Multi-specialist in other product ranges, such as Life and Health at Discovery
• You are an individual IC/IFA who wants to initially purchase 70% shares and then 10% p.a. over the next 3 years, while the seller stays on in the business to ensure client retention and assists in growing the practice over this period.
• You have good Discovery product knowledge, perhaps with an existing link to the Discovery platform;
• You are looking for an opportunity to grow your existing Discovery portfolio through the acquisition of an existing client base.
It is a requirement that you must have prior knowledge of the Discovery range of products. You should have a CAT 1.10 and 1.14 qualification and comply with all the FSB and FSCA regulatory requirements. You must be in the position to relocate to the Western Cape Region to take over the existing office.
This is a lifestyle business in one of the most beautiful regions of the Western Cape. You will enjoy lots of free time and your family will be based in a secure area.
You will understand that this is a strategic acquisition with the view of the existing owner being less and less involved in the business, exiting over the next 2 years. But you also understand that the owner would be willing to stay on for another one or two years to ensure a smooth transition and introduction to all clients you will be taking over.
You will be purchasing 100% shares in the seller's private company to ensure a smooth handover.
Access to opportunities of this kind seldom comes on the open market. This is a great, growing business that immediately offers a recurring net income of more than R150,000 per month.
If you think you are the strategic partner we are looking for, the seller would be happy to have a confidential discussion with you.