Ipac expands with succession plan strategy
Ipac has acquired InTouch Financial Planning, continuing its strategy of expanding its business by providing succession plans for financial planning businesses.
InTouch has $30 million of funds under management. The principal of the practice is Greg Walker, who will become a new adviser under Strategic Planning Partners (SPP), the ipac-owned financial planning business that acquired InTouch.
John Saint, head of adviser solutions at ipac, said: “There are two things to the succession planning strategy. We have a proposition for clients which revolves around a run-grow exit proposition where we can help people run their businesses better, we can help them grow their business, and then we can help them exit when it’s time for them to exit, in the time that suits them best.
“The business owner, Greg WalkerÉ wanted to continue being an adviser, so he sold his business into SPP and that became a part of the ‘tuck-in’ [strategy], and we’ve kept Greg on as an adviser,” Saint added.
Ipac targets financial planning businesses that want an immediate succession plan and principals who are looking for a three to 10-year growth-exit strategy. The company then focuses on expanding the profitability of the business before the principal sells it.
AUTHOR
Benjamin Levy
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