Perspective Financial Group Ltd (Perspective), one of the UK’s leading trusted providers of expert, specialised financial planning advice with a network of local offices is pleased to announce it has reached a significant milestone with four further acquisitions ranging in size from £10 million to £175 Million AUM, including its 50th deal.
The group, founded in 2008, has grown significantly over the last two years following a major capital injection by CBPE Capital LLP in December 2019. Over this time, it has made 18 acquisitions, doubled headcount to 280 staff, added £1.2 billion AUM (now £4.2 billion) and opened seven new local offices, making a total of 21. It has also recruited several senior staff during this time, including latest hire, Kristian Murphy, who joins from EY. The group continues to combine the benefits of a local firm with the strength and resources of a national firm.
Perspective’s absolute focus on ‘clients come first and we come second’ has proved to be a compelling proposition, not only for its existing clients, but also for the firms it has acquired recently, where average client retention rates have exceeded 97%.
Ian Wilkinson (pictured), Chief Executive Officer of Perspective said: “It has been an exceptionally busy time for us and I am delighted by the progress we have made. We have a very clear sense of direction, are delivering at pace and constantly innovating. We have recently articulated our purpose and the values which we have lived by for over three decades, and these very much drive everything about the firm.
“We are regarded as the acquirer of choice for firms who are truly client-centric and we continue to seek more good opportunities. We have proactive approaches from high quality firms looking to find a secure succession route as the founders themselves near retirement. The feedback from them is that our combination of retaining their local office and staff where appropriate, lifting some of the compliance burden from their shoulders, and having access to the resources and security of a larger organisation is highly attractive.
“I am delighted to welcome the four new firms and our recent new joiners to Perspective.”
The four acquisitions announced today add 915 households as clients, £335 million AUM, 11 staff and two new offices in Hertford and Rickmansworth.
Richard Pipe & Simon Alway, Directors of Searchlight Investments Ltd, Rickmansworth with 430 clients and £175 million AUM said: “It was of paramount importance to us that any purchaser shared our core values and genuinely put clients at the heart of their proposition. In Perspective, we have found the firm we are confident will deliver financial planning and wealth management services to our valued clients in the years ahead.
“We look forward to working alongside Perspective to complete a successful integration and feel confident that, in time, we are leaving the business and our team with a highly professional company. They bring a great deal of experience to the acquisition process which has proved invaluable.”