FTAdviser quoted Laird, a certified financial planner for Carrington Wealth Management, saying that he was particularly interested in acquiring or merging with Scottish IFAs, particularly those based in the oil boom town of Aberdeen.
He further explained that though it would be easier to acquire businesses closer to home, most of the progressive RDR-ready firms in Northern Ireland are already looking to acquire, rather than merge or be taken over, while prices expected by those who do want to sell are unrealistic.
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"Within Northern Ireland we have made many enquiries and found the some of the prices being expected and asked for by retiring IFAs are unrealistic. Some of the multiples being paid here for existing client banks are completely unsustainable. People are paying six times trail," FTAdviser quoted Laird as saying.
Laird was also found to be favoring Scotland above other areas in the UK since it is serviced with daily flights from Belfast and that there is a lot of commonality between the Scottish and Northern Irish cultures.
Laird is currently in talks with two companies about a possible merger, said that he would prefer buying small to medium sized directly-authorized firms with up to GBP20 million in AUM.
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