Same advisor

[DDT]

I'm thinking of selling my shares in my business to my business partner. We have worked in the past with a firm of financial advisors, who I feel are a efficient and ethical. We would both be happy to use this firm, but would it be advisable for both of us to use the same financial firm.

 

[Mark T Jones]

Definitely not advisable- in fact they may well decline to do so.

They might give a solid recommendation though

 

[Paul Kelly ICHYB]

What do you want the financial advisors to do?

Agree a price & terms and get a solicitor to do the contract!

 

[MyAccountantOnline]

I'm thinking of selling my shares in my business to my business partner. We have worked in the past with a firm of financial advisors, who I feel are a efficient and ethical. We would both be happy to use this firm, but would it be advisable for both of us to use the same financial firm.

I would have thought this will be a conflict of interests for the financial advisor and as such they will suggest not acting for you both unless the work they will be doing for you is very limited.

 

[pentel]

What sort of payment are you looking at?

Normally the purchaser would have a solicitor draw up a share purchase agreement and the seller would appoint a solicitor to act for them.

It would be a lot simpler (and less costly) for the company to buy its own shares and cancel them.

 

[DDT]

What do you want the financial advisors to do?

Agree a price & terms and get a solicitor to do the contract!

Advise me on the legal process of the sale. After doing some research I find that I need legal advice not financial, As my business partner and I have agreed a ballpark figure for the sale price of the business. I would appreciate any advice on choosing a solicitor.
Thanks