Perspective Financial Group has bought four firms and added a new office location in Belfast.
The firm purchased Tees Valley Asset Management, P Bennett & Associates, Oak Financial Management and Marlborough Place, creating its first office in Northern Ireland.
These acquisitions with the new location take Perspective’s total office to 27 and add a further 880 households as clients and £240mn assets under management.
Since the start of 2023 the firm has completed eight acquisitions and 63 in total since the group was founded 16 years ago.
In addition, the group has exchanged contracts on a further seven deals which will all complete in the coming months.
Gary Blakemore, managing director of Tees Valley Asset Management, said: “Following the sudden, sad passing of my close friend and business partner David Snowden last year, it was imperative that I obtained help and support from a larger national firm.
“Several firms were interested in acquiring my business. However, Perspective stood out as they share the same client-focussed ethos and values as I have. They are the perfect fit. I am very much looking forward to working with them, knowing my clients and I are with the right firm.”
Paul Bennett, founder and director of P Bennett & Associates, said: “When I came to the realisation that I was not getting any younger and needed to address the issue of succession planning, I sought a way forward to protect the interests of my clients to ensure they would have continuity of advice in the years to come.
“In joining Perspective, I have identified a firm that shares the same values as myself and is committed to professional and personal advice on a whole of market basis. I look forward to working closely with Perspective to ensure a successful and harmonious integration.”
Martin Blackman, director of Oak Financial Management (MCR), said after nearly 40 years in the profession, he felt it was time to follow the advice he has given so many of clients and plan for his own retirement.
While Eamon Southwell, director of Marlborough Place, said the best long-term solution for its clients and staff was to seek a merger with a larger partner.
Ian Wilkinson, chief executive officer of Perspective, said he was delighted that these four firms chose to join.
Wilkinson said: “We have our biggest ever pipeline of acquisitions, both large and small, and relish the opportunity to grow further at scale and pace.
“Our Perspective Academy, now nine years old, is fundamental to ensuring we have a strong pipeline of future talent to support our growth plans.
“With over 40 people in the academy including administrators, paraplanners and financial planners, we are building the capacity to support future growth and provide excellent career prospects for our people.”
These purchases follow on from three acquisitions in March, based in Huddersfield, Cardiff and Whitstable.
At the time, this move created two new office locations for the group – Huddersfield and Cardiff - taking its total to 26.
In January, the firm confirmed its first acquisition of the year, adding £37mn in assets under management with Buckinghamshire-based Ian J Hunt Chartered Financial Planners.
sonia.rach@ft.com
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