I reckon the current valuations of financial services firms reflect a massive and growing Ponzi scheme. A Ponzi scheme underwritten by Australia’s major financial institutions. My reasoning is as follows: Valuations of 2.5+ times on-going revenue are still common for...
I’ve been telling as many advisers I can that 2010 has to be about the peak of business valuations for most of today’s financial planning businesses. Therefore, these have to be the best of times to consider selling, particularly inactive financial planning client...
