AXA Grow helps advisers plan their own future
AXA’s succession planning tool has proved to be popular among advisers in their efforts to maximise the value of their business when the time comes for the owner to retire.
Called AXA Grow, the service was launched in January, 2006, and since then has completed 12 transactions with financial planning practices, with a further nine transactions underway at the moment.
The program offers practice owners several different layers of consultation in addition to valuation of their businesses.
AXA national manager of Grow Steven Davison said: “It’s broken into a number of things. One of them starts with strategic planning based around what they’re actually trying to achieve. Once we have a better understanding of that then we work with them on how to structure their business and also how to structure any agreements such as buy and sell agreements.
“We also provide them access to independent due diligence to be undertaken on the business that is selling down some of its shares so the acquirer knows any of the risks associated with the purchase price. We’ll work with them on valuations and, if there is a need for an independent valuation, we will provide access to that,” he added.
While the program is available to all financial planners, AXA sees it as a service offering that it can use to grow its distribution arm.
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