Self licensees in growth mode endorse My Dealer Services new online acquisition facility

From

Alex Euvrard

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 Pty Ltd (MDS) facility that has been designed to bring advice buyers and sellers together said MDS Director Alex Euvrard.

“Since inception, our objective via the online resource has been to provide an easy to use, yet confidential and neutral facility bringing buyers and sellers together”, said Euvrard.

Euvrard confirmed that the online facility and features had been developed following extensive conversations over many months – including a wide-ranging survey of MDS’s network of financial advisers about their growth aspirations. The insights received, provided the foundation for 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”, said Euvrard.

“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 has been developed is the availability for Business Brokers to list their seller client practices on the MDS facility as it does not encroach or impact their arrangements with their client base.

For Business Brokers, it represents a further distribution / promotional avenue to promote their advice seller clients.

Euvrard went on to say 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.

For practice principals committed to the future, the current environment of advisers exiting the industry provides an unprecedented window of opportunity to facilitate growth through acquisition.

As well as bringing buyers and sellers together, the existing services and extensive experience of MDS, that has successfully assisted and supported dealer groups and financial advisers to obtain their own licence or establish robust compliance frameworks – will be available.

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 concluded, “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”.

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