Glossary of Succession Terms

This glossary is for anyone working in UK-regulated financial-planning business interested in or experiencing either internal succession or external sale of their business, or those acquiring a UK-regulated financial planning business.

H

Heads of Terms
An initial document recording key commercial terms. It is usually non-binding except for specified provisions such as exclusivity and confidentiality.

Historic Advice Liability
Exposure arising from advice given before Completion. 

Hive-Up
Transfer of a business and staff into the Buyer's regulated entity.

Holding Company
A company that holds shares in another company, often referring to the top company in a group.

     
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