Frustration over lack of sellers
Accounting and advice groups eager to expand their businesses through acquisitions are being urged not to let their frustrations boil over.
Connect Financial Services Brokers chief executive, Paul Tynan, said a number of would be business buyers have expressed their frustrations over the lack of sellers in the market.
However, Tynan warned that the process of finding the right fit for an acquisition took time, and could not be rushed.
He said would-be buyers needed to focus on finding culturally aligned businesses and people before pursuing an introduction to commence merger, acquisition or partnership negotiations.
"It's not unusual for some of these conversations to take up to two years," he said.
"We are currently seeing a number of these long-term introductions come to fruition."
AUTHOR
Nicholas O'Donoghue
Recommended for you
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
There has been a 16.3 per cent rise in the wealth of Australian billionaires this year to over $200 billion, UBS finds, as Australian advisers shift their offerings to meet this expansion and service their unique needs.
AZ NGA is looking to triple in size over the next five years as US investment giant Oaktree completes its $240 million investment in the professional services company.
