Perspective Financial Group has bought two advice firms, taking the group total to 17 acquisitions so far in 2023.
The firm has bought Sheffield-based Campbell Harrison Ltd and Halesowen-based Strategic Financial Portfolios Ltd.
The two purchases add 800 households as clients, £220mn in AUM and two local offices.
Alex Campbell, director of Campbell Harrison, will remain with the firm for a short period to ensure a smooth handover before retiring.
As part of the deal, the whole team is transferring across to Perspective and the current office in Sheffield is remaining open.
Campbell said: “It impresses me that Perspective’s CEO is still a practising financial adviser, in contrast to many firms whose senior management don’t have recent or any experience of providing advice to clients.
“I share their view that ‘If you look after the client first, you will run a successful company’."
Meanwhile, Strategic Financial Portfolios will still run its local office with the existing team in the same location, but under Perspective’s input and guidance.
Mohammed Bostan and Robert Anglin, directors of Strategic Financial Portfolios, said: “We are very excited to become part of Perspective.
“Their additional resources and highly professional, ambitious approach will help us take the business we have built since 2005 to the next level.
“Their client-centric approach means we are confident that our clients will benefit from access to some new services and from the economies of scale that a larger organisation can deliver. “
They added: “We were both struck by the positive ‘can-do’ vibe that Perspective exhibits which everyone we have had contact with during this process has shown.”
In total, the group has made 73 acquisitions since it was founded 16 years ago, and now has 35 offices across the UK, 120 financial planners and a total of 450 staff.
Perspective has also exchanged contracts on a further seven deals which will all complete in the coming months.
Ian Wilkinson, chief executive officer of Perspective, said: “We are delighted that these two firms have chosen to become part of us.
“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.
“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. “
Wilkinson urged and recommended that vendors take references from previous sellers.
“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,” he said.
“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.”
Last month, Perspective Financial Group Ltd purchased three firms, adding £250mn in assets under management.
The three acquisitions were Buckinghamshire-based Prosperity (GB), Northumberland-based AYP Financial Planning and an undisclosed firm in north east England.
sonia.rach@ft.com
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