Mergers and acquisitions  

Perspective secures £50mn Aum with adviser acquisition

Perspective secures £50mn Aum with adviser acquisition
Ian Wilkinson, chief executive officer of Perspective

Perspective Financial Group has bought Cambridgeshire-based adviser Ramsey Financial, adding £50mn in assets under management.

The purchase of Ramsey Financial, based in Huntingdon, Cambridgeshire, will add 330 clients to the group.

Ramsey Financial was founded by husband and wife team, Russell Palmer, a chartered financial planner, and his wife Jane in 2007. 

As part of the deal, both husband and wife will remain with the business. 

Palmer said: “To sustain and grow the business further we now need help and support. We also want 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. 

“Recruitment of suitable advisers within financial services has proved difficult and the mechanics and costs of running a business, alongside providing a high level of client service, takes more and more of our time and energy.”

He added: “With this in mind, we decided the best solution for our clients and for us, was to seek a merger with a larger partner who could take many of the pressures of running the business off our shoulders as well as providing a guarantee of continuity for clients when we make our decision at some point in the future to retire. 

“We are delighted to become part of Perspective and it’s clear they fully share our ethos, ethics and client focused approach.” 

Last month, Perspective Financial Group bought a further four firms ranging in size from £10mn to £175mn Aum, taking its total number of acquisitions to 50.

The purchases include Searchlight Investments, based in Rickmansworth, Stafford Wealth Management in Hertford, TCS Life and Pensions & The MGroup Financial Services in Oxford and a financial adviser in Maidstone.

This latest deal, announced today (April 26), takes the total number of acquisitions to 51. The Cambridgeshire location will take Perspective to a total of 22 offices across the UK. 

Ian Wilkinson, chief executive officer of Perspective, said: “This acquisition again reinforces our  appeal to smaller, high quality firms such as Russell and Jane’s, who demonstrably share our client-centric values. 

“We offer an attractive route forward so they can continue to develop their business whilst having the reassurance of a clear, sustainable succession plan when they are  ready to retire for both them and their clients. 

“We continue to seek more good acquisition opportunities and have a very full pipeline for 2022 and into 2023.” 

In February, the group bought Warwickshire-based adviser Beanland Financial Services in its first deal of the year, adding £160mn Aum to the group and taking its assets under management to £4bn.

Last year (November 2021), Perspective bought Kent-based St Lawrence Investment & Pension Solutions, alongside two senior hires.

This came after Perspective bought Wiltshire-based Avon Financial Advisers in August, which followed a series of purchases by the group the previous month in Warrington, Sevenoaks, Burford and Bury.