Perspective announces three further acquisitions

Perspective Financial Group has made a triple acquisition, with the purchase of firms AYP Financial in Northumberland and Prosperity (GB) in Buckinghamshire, along with a final north east adviser which has not yet been revealed.

The assets add £250mn to Perspective’s assets under management as well as two offices, plus 1,000 households added to Perspective’s client books.

The treble purchase marks Perspective’s 15th acquisition of 2023, and its 71st since it was founded back in 2006.

John Burchett, Director of Prosperity (GB) Ltd said: “Since 2004, Prosperity (GB) Ltd has experienced exceptional growth due to numerous recommendations from existing clients and professional connections for which we are immensely grateful. “

I have decided it’s time for me to retire soon, though I will continue to be involved with the firm for a short period to ensure a smooth handover. My fellow Director, Adam Jerreat will remain with the business and continue to look after his clients, old and new.”

Adam Jerreat, Director said: “Joining Perspective will help to sustain and grow the business further. We wanted to be happy that we have a business that provides a continued high level of service for our clients, not just now, but long into the future.”

Kim Alexandra, founder and Director of AYP Financial Planning Ltd (AYP) said: “I established AYP almost 20 years ago to offer a top quality independent financial planning service for women.

“Since then, we have evolved beyond specialising in advising women, and have experienced tremendous growth with clients confidently referring family and friends as they know all will be treated with the utmost respect and professionalism by the whole team. This move will provide long term security to the provision of financial advice for our clients, career security and indeed greater opportunity for our people, and the ability to grow our office in Hexham.

“I will continue to look after our clients old and new and am very pleased that the whole team is transferring across to Perspective.”

Ian Wilkinson, Chief Executive Officer of Perspective said: “We are delighted that these three firms have chosen to become part of us. These acquisitions add a further 1,000 households as clients, £250 million in AUM and two new local offices, including one in Hexham where I grew up. We welcome everyone from these firms to the Group.

“Our pipeline remains extremely strong and continues to grow month on month. We are meeting both large and small firms and we plan to continue to grow at scale and pace with our highly selectively acquisition strategy.”

Mr Wilkinson continued, discussing the current acquisitions market and the importance of transparency when committing to the deal: “Interestingly, we have re-engaged with half a dozen firms over the past two months that have recently terminated discussions with other acquirers, as other acquirers have been unable to complete their proposed acquisition for various reasons.

“We recommend, indeed insist where possible, that all our vendors take references from previous sellers to us from all our previous acquisitions. This evidences that we deliver on our promises.

“We are often surprised that references are not taken more regularly from those looking to sell their business, given it is likely to be the single largest financial decision they will make in their lives. We always encourage vendors to take the appropriate references before making a decision on their most appropriate acquirer.

“Perspective has been built around a culture of putting our clients at the centre of our decision-making process to ensure that we always deliver good client outcomes, as far back as our beginning in 2007. We always put ourselves in our clients’ shoes first and foremost, so our vision and core values have meant that the principle and required outcomes of Consumer Duty have been deeply embedded in our business for many years.”

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