Requirement:

Partner D is an owner-led business. The owners bought out the founders four years previously, and have grown the business through acquisition in recent years. They operate a respected firm with strong loyalty from their clients, staff and community. Nevertheless:

• they have some debt and a few deferred payments due soon;
• their financing issues are eroding their enjoyment of running the business, diverting their efforts away from their core competency of financial planning:
• they are spending too much of their time managing cashflow and worrying about bank covenants;
• they cannot yet afford to employ a full-time Finance Director;
• they are uncertain about how to navigate the years ahead.

Solution:

We first assist them in addressing their immediate concerns:

• help them to understand their current position in detail;
• invest money in the firm to reduce the debt burden and give them the assurance they can fulfil their deferred payment obligations.

However, we do much more.

Immediate concerns alleviated, we find their position not as negative as feared, and are able to offer the ongoing support they feel they need:

• we assign one of our finance people to their firm on a part-time basis so they can focus on clients;
• we provide support on some outstanding integration work.

Ultimately, the owners start to think more positively about the future, safe in the knowledge that the business is now on a steady footing. In the future, they are now able to offer the perfect home for retiring local IFAs looking to sell their businesses.