National financial adviser firm Perspective Financial Group has acquired the client bank of financial adviser Kingsworld Walder, adding a further £26m in funds under management that will be managed out of its Malborough office.
Kingsworld clients will now be looked after by the adviser team at Perspective’s Marlborough office, Equilibrium Wealth Management. No advisers will transfer over from Kingsworld.
Previously based in Gillingham, Dorset, Kingsworld was previously run by managing director Jeffrey Martina who has now retired.
Clients have been contacted and are now meeting with Equilibrium advisers. Kingsworld operated with funds under management of £26m and recurring income of £125,000 per annum, Perspective said in a statement.
Damian Keeling (pictured), managing director of Perspective, said: “While most of our acquisitions are of advisory practices which can fit comfortably into the Perspective structure, we are also supporting our regional offices with client bank purchases.
“We are open to working with quality, profitable practices in a number of ways, whether it is through client bank acquisition or bringing the entire firm into the group.
“The fact is that time is running out – January 1st 2013 will be with us before we know it – and advisers need to make decisions quickly. We are always available to take those calls and answer those questions in order to help firms along the path to their post-RDR incarnations.”