Ataraxia targeting staff to succeed retiring broker bosses
Ataraxia Broking chief executive Stuart Randall has revealed more of his plans for the firm with the announcement that the company will offer free minority stakes in its brokerages to people that want to succeed their retiring owners.
Randall said he is targeting quality staff from consolidators and regional brokers to join the scheme.
Ataraxia was set up to help broker bosses looking to retire by offering to buy firms with premium incomes between £1.5m and £6m. However, the deal would let the bosses stay in charge for as long as they want to before they hand over the firm to Ataraxia.
At that point, Randall said that if a brokerage had no internal successor lined up he would parachute someone in to take over or transfer the firm over to another Ataraxia broker.
“We don’t want to run brokerages,” Randall explained. “We want to open brokerages and marshal them to a degree.”
Those entering the deal would get a salary and a minor stake in a brokerage for nothing, and would get to keep all the profits in the company when they eventually take over.
Ataraxia would then charge a yearly license fee.
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