Perspective Financial Group has bought two more advice firms for an undisclosed sum, adding a total of £390mn assets under management.
The firm has bought Worthing-based Accord Financial Management Ltd and Rotherham-based RPG Financial Ltd in Rotherham.
This takes the number of acquisitions Perspective has made this year to 19 and means it has made 75 acquistions since being founded in 2007.
It also takes Perspective's assets under management to £7bn.
Paul Roper, director of Accord, said: “We launched our business in 1999 and since then have experienced tremendous growth due to numerous recommendations from existing clients and professional connections, for which we are immensely grateful.
“To sustain and grow the business further, we knew we needed the support of a larger partner including access to the next generation of financial planners, and also assistance with the ever increasing regulatory burden.”
“We are delighted to become part of Perspective as they clearly share our ethos, ethics and client focused approach,” he added.
“This move will provide long term security to the provision of financial advice to our clients and career security our staff.
“Whilst Perspective has the scale of a national group, they retain the feel of a local firm. They share the same fundamental values as we do and are committed to growing our presence in the area.”
Perspective said these latest purchases would add a further 1,400 households as clients, as well as 11 staff and two office locations.
Stephen Dilks, director of RPG Financial, said: “Since we founded RPG Financial 19 years ago, we have enjoyed significant success.
“However, our attention over the past few years has naturally been drawn towards ensuring the future of the business to enable us to continue to provide high levels of client advice and service.
“After an exhaustive search, Perspective really stood out. From the outset, it was clear they are a genuinely client-centric firm with great professionalism across all aspects of their operation.”
Dilks said a key aspect required in a larger partner was the reassurance for clients and staff that nothing would change significantly on a day-to-day basis.
“We share Perspective’s belief in the value of a whole-of-market approach being key to providing high quality financial advice to clients,” he said.
“We are very much looking forward to our future with them.”
Perspective now has 37 offices across the UK, 125 financial planners and a total of 460 staff.
Ian Wilkinson, chief executive of Perspective, said: “We are delighted that another two client centric firms have chosen to become part of us.
“2023 has been a year of strong and significant progress for us as we continue to deliver our highly selective acquisition strategy, completing a record number of acquisitions.
“We are over a third bigger than we were a year ago. It’s pleasing that the firms we acquire consistently comment on our professionalism and ‘can do’ attitude.”
Wilkinson said the acquisition pipeline of both large and small firms “remains extremely strong” and continues to grow.
“We recommend, indeed insist where possible, that all our vendors take references from previous sellers to us from all our previous acquisitions,” he said.
“This evidences that we always deliver on our promises, and do what we say we will do.”
In September, Perspective bought 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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