Bradbury gears up to acquire firms in pre-RDR exodus

City-based firm Bradbury Hamilton is targeting further IFA acquisitions in 2012 as it aims to use its £1 million war chest.

Managing director Sheriar Bradbury said he was aiming to buy firms that wanted to exit financial services before the retail distribution review (RDR).

‘There will be a load of people who will have to sell their businesses and they’ll leave it late. I imagine there’s going to be a massive panic [to sell] between now and the end of the year,’ he said. ‘We have a war chest and anticipate 2012 will be a good year to use it.’

Bradbury said the firm was looking for transactional IFAs with businesses built on initial commissions and turnovers of around £500,000. He has built up the business by acquiring client banks, buying around 40 since the firm was founded in 1993.

Last year the firm embarked on a joint venture with accountancy firm Raffingers Stuart, giving it access to a 2,000-strong client base with up to £40 million of assets.

‘We have assets under influence of around £250 million right now. I want to build that quite considerably,’ said Bradbury.