Radar Results Marketing created a summary of over 130 financial planning practices and client registers from the past six months to September 2019. The summary outlines the recurring revenue multiples for the different revenue types. As stated in the table below, advisers looking to sell, can expect to sell their client bases from 1.0 times to 2.8 times their recurring revenue. It is worth noting that these multiples apply to client bases where the annual revenue is up to $1 million AUD - reinforcing the view the the multiple of renewals method is applicable mainly to smaller businesses (under five people) rather than more substantial enterprises. For those constantly surprised why small businesses of this type can command values as high or higher than these then the answer is simple - because of the arbitrage between the values for these businesses, and those for larger advice businesses.