Former Transact head of marketing Malcolm Murray is promoting a platform that will allow IFAs to secure funding for their businesses more easily.
Murray (pictured) is acting as a consultant to Asset Match, a platform that allows trading in private company shares.
The platform matches investors with business owners, and Murray said its fees would be negotiable.
Murray said the platform could make investment in IFA businesses more attractive, by increasing liquidity in shares and allowing investors the possibility of an exit.
‘It has not been easy for the equity investor to realise some, or all, of their investment in a private company,’ he said. ‘The lack of exit options, and the fear of being tied in indefinitely, is probably a deterrent to those who might otherwise be willing to take an equity stake in the business.
‘There are signs that the circumstances that gave birth to a market in unlisted shares 30 years ago are enjoying a revival. But what is needed to stimulate it further is a platform which puts willing buyers and sellers together.’
Asset Match was founded by Stuart Lucas, an early stage investor in Transact, and Iain Baillie, former head of fixed income at stockbroker Christopher Street Capital. Vincent Thompson, another early investor in Transact, is head of business development.
The trading platform may also provide a market for the trading in Transact shares. Around 5,000 advisers use the Transact platform but only a small proportion, mostly those who were early adopters, own stakes.
Murray left Transact in June this year, after 12 years spent working for the platform.