Financial Planning and wealth management firm Perspective Financial Group has completed the acquisition of four IFA firms in Warrington, Sevenoaks, Burford and Bury.
The four acquisitions add 600 clients and £350m in assets under management.
Perspective now has 23,000 clients and £3.6bn in assets under management.
The acquisition of Prolific Financial Services Ltd (Prolific) in Warrington, Cheshire, opened up a new location for the group and increasing its network of local offices to 19.
The firm, founded in 2001 by Phil Newton and Simon Allan, has a client base of individuals and corporates across the North West with many connections with professional services firms in the region.
All six Prolific staff and directors have transferred across to Perspective, with Phil and Simon continuing to lead the office.
The second acquisition is Evolve Financial Management Ltd (Evolve), a sole-adviser IFA based in Sevenoaks, Kent.
Founded by Mike Fisher 20 years ago, Evolve’s clients will now be served from Perspective’s existing nearby office in Maidstone with Mr Fisher retiring.
The group’s third acquisition is Bowman Financial Planning Ltd (Bowman) in Burford, Oxfordshire which will join Perspective’s existing nearby office in Woodstock.
Founded in 1993 by Paul Catling, Bowman has grown significantly through personal recommendations from existing clients, lawyers and accountants. Two members of staff from Bowman are transferring across, whilst Mr Catling and other advisers will be retiring later this year.
Perspective’s fourth acquisition is Quantum Portfolio Management Ltd (Quantum) in Bury, Lancashire, a specialist adviser to recipients of substantial damages settlements resulting from catastrophic personal injury and medical negligence claims.
Founded by Nigel Minay and Kelvin Barlow in 2003, the firm works closely over the long-term with its clients and their families, their other professional advisers and personal support teams. Much of its work involves the Court of Protection.
Perspective’s Thomas Harrison will become the lead adviser.
Perspective has also made two senior industry appointments. Fay Anderson joins from intelliflo where she held various senior client-facing roles during her 17-year career there. She now heads up implementation of the latest intelliflo systems across Perspective’s 19 offices.
Stuart Groves joins as manager in the training and competence function to support growth in the onboarding of advice teams following acquisitions, as well as developing existing staff.
Mr Groves’ career spans more than 20 years with Bradford & Bingley and Prudential.
Ian Wilkinson, CEO of Perspective said: “These acquisitions and senior hires are further decisive steps in our journey to become the leading firm in the financial planning and wealth management sector for both clients and staff alike. We see a growing demand for the type of expert, specialised advice we offer that enables clients to make full and effective use of their financial resources, so they can plan for and achieve the futures they desire.
“Our client relationships average 25 years’ duration and many span four generations, so we are confident about the quality of our advice and the value for money we offer.
Mr Wilkinson added that the firm expects to complete at least four more acquisitions before the end of 2021.
He said: “Acquisitions are still a major strategic driver and as a minimum, we will complete at least the same number of deals in the second half of 2021 as we have done in the first half. These vary in size from one-man bands to larger established firms that enable us to add to our network of local offices. We remain interested in deals at both ends of the size scale.
“We are ambitious, acquisitive and growing organically. Together with CBPE Capital LLP who invested in us in December 2019, we are well on our way towards setting the standard for excellence in Financial Planning and wealth management, and therefore being the firm of choice for clients and staff alike.”