Nearly 50 self-licensees pursuing growth opportunities have registered their interest to acquire existing practices and books of clients on the recently launched My Dealer Services facility that’s designed to bring advice buyers and sellers together, the company says.
MDS Director Alex Euvrard says that since inception, the company’s objective via the online resource has been to “…provide an easy to use, yet confidential and neutral facility bringing buyers and sellers together.”
Euvrard says, in a statement, that the online facility and features had been developed following extensive conversations – including a wide-ranging survey of MDS’s network of financial advisers about their growth aspirations. The insights received provided the foundation for the MDS offering.
“We are very pleased by the enthusiastic response during the development of this platform. In particular, as it provides a neutral resource for the principals of financial advisory practices outside MDS seeking to sell their businesses.”
He adds that although the exodus of advisers is regarded as a negative on one side, “…for well-structured, growth-centric practices, it represents an opportunity to facilitate and fast track growth aspirations.”
Another feature that’s been developed is the availability for business brokers to list their seller client practices on the MDS facility.
The company says that for business brokers, it represents a further distribution/promotional avenue to promote their advice seller clients.
…standing still is not an option in this environment, hence the importance of acquisition as one of the ways to underpin business growth…
Euvrard says that revenue growth will be an industry imperative as the cost of providing advice grows “…and standing still is not an option in this environment, hence the importance of acquisition as one of the ways to underpin business growth.”
As well as bringing buyers and sellers together, MDS’s existing services – that have assisted and supported dealer groups and financial advisers to obtain their own licence or establish compliance frameworks – will be available.
It says that utilising MDS’s compliance services, the group’s practices will have a better “…insight, understanding and appreciation of the business they are acquiring through such initiatives as Client File Reviews being conducted on purchased businesses.”
Euvrard says the response received to the MDS online facility has affirmed that the timing and features are right for the new offering.
“With such a positive response by prospective buyers, we are confident that sellers and business brokers will be attracted to the new MDS online facility.”
