Australia's financial planners have a new platform for the sale of their businesses.
Centurion Market Makers has launched as the new industry marketplace for the sale of financial planning businesses.
It brings together some of Australia's largest financial institutions and more than 150 financial advice practices that are financially able and actively looking to buy.
Centurion Market Makers was created when Centurion Partners directors Chris Wrightson and Wayne Marsh discovered many of the larger financial institutions were willing and financially able to buy advice practices, but were unable to find a sufficient supply of opportunities to consider.
They also found some business owners wanted to find the right buyer for their business, but did not know any potential buyers outside their network.
Centurion Market Makers 'buyer pays' model distinguished it from its competitors and should make it the first point of enquiry for anyone selling their practice, clients or looking for an equity investor, Wrightson said.
"Instead of charging the seller a percentage of the sale price, the buyer pays us an amount on each transaction, based on the business's annual revenue, so there are no transaction costs for the seller," he said.
Centurion Market Makers currently has buyers looking for entire financial planning businesses, shares in businesses, and full, or part, client bases in all parts of Australia.
Centurion Market Makers is a division of the Centurion Partners Group.
In Part 2 of our exclusive series, we ask leading names to nominate their best investments, the most effective industry group and the importance of platforms.
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