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Practice and SME sales

Data room for selling a financial advisory firm

Short answerFinancial advisory firms are valued on recurring client revenue and representatives, and they are regulated by MAS. Share licence and compliance records, anonymised client book data and representative information; plan for MAS approval where control changes.

How it works in Singapore

Licensed financial advisers, insurance-linked advisory firms and external asset managers are consolidating in Singapore.

Best data rooms for financial advisory firm sales

Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.

  1. 1 Ellty ~S$191/mo 9.1 Visit Ellty
  2. 2 iDeals On quote 8.6
  3. 3 Datasite On quote 8.6
  4. 4 Ansarada On quote 8.5
  5. 5 Intralinks On quote 8.4
  6. 6 Firmex On quote 8.3
  7. 7 Drooms On quote 8.3
  8. 8 SmartRoom On quote 8.1
  9. 9 Box ~S$19/user/mo 8.1
  10. 10 Citrix ShareFile ~S$70/mo 7.9
28%Security19%Deal tools21%Permissions16%Ease of use16%Cost

Folder index for financial advisory firm sales

01
LicenceMAS licence and conditions.
02
RepresentativesList, qualifications, agreements.
03
Client bookAnonymised AUM and revenue.
04
CompliancePolicies, audits, complaints.
05
Product partnersDistribution agreements.

Singapore rules that apply

Financial Advisers Act

Financial advisory services need a licence or exemption; changes in control may need MAS approval.

Representative register

Representatives must be notified to MAS.

More detail: MAS technology risk.

Features you need

FeatureWhy it matters hereRooms in our top 10 that list it
View and download controlEach file can be set to view-only, print or download, and the setting can be changed later.9 of 10
Audit trailTime-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator.10 of 10
Two-factor loginEvery login needs a one-time code, app approval or security key as well as the password.10 of 10

How to set it up

  1. Plan MAS approvalBuild it into the timeline.

Mistakes to avoid

  • Client names disclosed early.
  • Representatives leaving.

Questions people ask

Does selling an FA firm need MAS approval?

Changes in control of a licensed firm often need MAS approval.

How is the client book shared?

In anonymised form until exclusivity.

What do buyers check?

Licence, compliance history, representatives and revenue quality.