Perspective Financial Group Ltd (Perspective) is delighted to announce it completed two more acquisitions shortly before the Christmas break, meaning the Group made 22 acquisitions in 2023 bringing the total to 78 since it was founded 16 years ago.
Perspective now has 500 staff, 38 local offices and 140 financial planners, a third of whom are qualified to Chartered level or above. It manages £8 billion of assets on behalf of clients. The Group is three times the size it was five years ago.
Ian Wilkinson, Chief Executive Officer said: “2023 was a pivotal year for us as we took further strategic steps towards our goal of cementing our position as the UK’s best client-centric financial planning firm for both our clients and our people. Successfully completing, and importantly, integrating an acquisition almost every two weeks is testament to the professionalism of our team and a reflection of us delivering on our core values on a daily basis.
“I have spoken with literally hundreds of IFA firms this year and probably thousands in my 35 years in the sector. I remain a financial planner myself still advising clients, which means I continue to understand clients’ concerns at first hand.
“I retain my strong belief in the benefits of developing and nurturing talent in-house. That way, people have the right values to be successful with us.
“Given that two of the main motivations for firms in this sector wishing to sell up are the ability for the owners to retire in the near future, or to grow their business further with the resources of a larger group behind them, a strong pipeline of young, motivated talent coming up through our Academy is vital to ensure clients can rely on us over the long term.
“Our focus remains on being the best, most client-centric firm through always doing the right thing for the client. We increasingly set the bar on standards of excellence in the sector.
“We will grow further at pace and scale in 2024. I am certain that Perspective’s best years still lie ahead and warmly welcome our latest acquisitions and their teams to the Group.”
The first acquisition is the client banks of Simon McGechie and Paul Adams, both former Fairstone Financial Management colleagues. Combined, they bring 265 households as clients and £55 million AUM to Perspective. This deal is brokered by Gunner & Co.
Simon McGechie said: “I have been considering my personal future for a while. With a desire to provide continuity of service to clients, I carried out a thorough search to identify the best long-term partner who shares and lives my personal values and standards of client service and professionalism. Perspective meets these criteria in full.”
Paul Adams added: “Whilst I am taking this opportunity to relinquish my authorisation with our regulator I, like Simon, will remain with Perspective for a short period to ensure a smooth handover. Perspective’s impressive approach to its in-house Academy gives me confidence that my clients will be well advised long into the future.”
The second acquisition is Park Lane Independent Financial Advisers Ltd based in Colchester who bring 300 households as clients and £135 AUM to Perspective.
Directors Andrew Frettingham and Paul Southgate said: “We have always put our clients at the forefront of all that we do and over several years have built valued relationships based on trust and sound financial planning. It is therefore important that we are able to continue to do this for many years to come whilst also dealing with the ever-increasing burden of regulation.
“After meeting Ian Wilkinson and David Hesketh, the group’s Chief Financial Officer, it became clear they share our client focused approach whilst retaining the feel of a smaller, local firm.
“They have reassured us on two key considerations which are firstly, no significant changes for our clients; secondly, career security and progression opportunities for our valued and talented long-standing staff. We are therefore delighted to have joined Perspective.”