Businesses for Sale

Copia Wealth Management Ltd b


SOLD (STC)

Robson Kay Associates Ltd act in the capacity of agent to the liquidator of Copia Wealth Management Ltd.

The company acted as independent financial advisers and ISA managers.

The company was authorised and regulated by the FCA

The business assets are being marketed strictly on the basis that the buyer of the client book, essentially the only saleable asset, is a firm of financial advisers and not a claims management company.  For the avoidance of any misunderstanding, the liquidator advises us that we cannot sell to or consider any offers from a claims management company.

We understand that clients had investments in some problematic investments, in particular Reyker Securities (which is in special administration) which led to liquidity, commission and Professional Indemnity related problems, all of  which led to the company entering into liquidation

We understand the company had very approximately 500 clients from whom relatively little was earned in the way of annual/renewal commission, the bulk of the company’s income deriving from initial fees.  We are informed that the vast bulk of investments were SIPPs and personal pension plans.

Turnover in year ending July 2018, the last year for which there are full accounts, was £430,000

The database of customers will be released to the successful buyer providing the buyer contractually agrees to only use it for similar purposes to Copia, which means a restriction will be placed on the buyer from using the database for direct marketing purposes.

No warranties can be offered to the successful purchaser and the liquidator will require protection from the buyer in respect of GDPR breaches which might arise from the database being transferred by the liquidator to the buyer.

Interested parties should in the first instance contact Jonathan Kay on 0161 998 8111 or by emailing jonathan@robsonkay.co.uk.

Bidding deadline is Friday 2nd October 2020


Images


No Images currently uploaded.


Documents


No documents currently uploaded.


Back to businesses for sale

Join Our Mailing List

Join our mailing list and we will email you about

  • Forthcoming Auctions
  • Asset Sales outside of Auction
  • Property Sales
Please enter a valid email address.The Email address you have entered is in an invalid format. Please re enter.

Professional Bodies

Website Map | Privacy Policy