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Sense to buy clients from retiring director duo

by Jun Merrett on Nov 22, 2012 at 11:33

Sense to buy clients from retiring director duo

Two directors at Nottingham-based Sense Financial Solutions are to retire as advisers at the firm and sell their clients to the business.

Sid Court will retire from the firm in January alongside fellow director Ian Tagg, who will step back from being an adviser but remain a director and take over Sense’s will consultancy service.

Steve Buttercase (pictured), financial planner at Sense Financial Solutions, said the five directors agreed when the firm was established in 2004 that upon retirement they would sell their clients to the business at 50% of ongoing trail.

‘It’s the first time we’ve tried it and it’s what we’ve always wanted to do,’ he said.

‘We now want to encourage advisers who are thinking about retirement to come across, be with Sense for a couple of years, then hand over their clients and get a retirement package without having to sell the business.’

2 comments so far. Why not have your say?

Dante

Nov 22, 2012 at 18:35

Disposal or ongoing income. What tax treatment?

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Peter jones via mobile

Nov 22, 2012 at 19:14

Sounds good plan but with providers potentially stopping renewal as we know it now what is the 50% of post rdr?

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