According to a recent survey, 21% of IFAs intend to retire and leave the industry in the next five years.

If you're one of them, then you want to prepare your business for sale. There are 3 Ps you need to remember:

1. PROPOSITION
2. PEOPLE
3. PROFILE

PROPOSITION - To get the right proposition, segment your client bank. If you've got unprofitable clients, you probably should consider getting rid of them. It would increase the value of your business.

PEOPLE - You definitely need to make sure you've got the right people in your business, and most importantly, you need to review their contracts. If your people are self-employed, you should well consider either employing them or giving them a share of the spoils when you sell the business.

PROFILE - Your Profile will affect the price you get for your business. If it's an asset sell, it may not matter much providing you've got the segmentation right. But if you want to make a share-sale, then multiples of EBITDA will really come into play. So, it's important that you've got the profile of your business right and its profitability.

So, if you want to prepare now for sale, you need to make sure you've got the right advisers in place and you start to put the 3 P's into action.