Pre-packaged sale of an FCA regulated IFA Firm

Begbies Traynor Group, led by Carl Lever, has successfully undertaken the pre-pack sale of a major regulated financial services provider. Throughout the process, our team worked closely with the Financial Conduct Authority (FCA) to complete the sale and the transfer of £70m to the new buyer. Due to the heavily regulated sale environment, we had to ensure full compliance with the regulator throughout the process.

Carl and the Leeds team worked closely with the business, the FCA and the buyer to safeguard the assets of 300 individuals, managing complaints with full compliance of the regulatory body. The business was sold to another FCA regulated party, this tactical sale ensured the continuity of services and safeguarded 11 jobs in the process.

This pre-packaged Administration delivered a significantly better outcome for the 300 creditors, retaining the value of shares and assets in comparison to placing the company into a CVL style liquidation.