Managing Director of Marks Insurance Consultants Ltd
Marks Insurance Consultants Ltd
“I had struggled with the concept of selling the business to another Broker because of my client relationships, my concerns for the long-term future of the staff, and the fact that the Brokerage is essentially a lifestyle business where I have had complete control for more years than I care to remember, and I am therefore unemployable. If I had sold to another Broker I had doubts as to whether I would have managed six months before walking out.
Ataraxia have given me the opportunity to release value in a tax efficient way, and at the same time retain control. My succession plan is now almost complete, because Ataraxia are assisting a member of the staff to purchase the shares over an agreed period, without the burden of trying to service secured debt. I also have an agreement in place to continue on a part-time consultancy basis when the share transfer is complete.
Although, I am only at the start the process I am impressed with the Ataraxia relationships with Insurers, which are so much stronger and dynamic than experienced with our previous network partner.”