Perspective Financial Group has acquired Independent Life & Pensions in what marked the firm’s 38th acquisition since its foundation in 2008.
The national advice firm and consolidator announced today (January 12) it has bought the Corby-based company in a move which brings across 440 clients and £120m of assets to the group.
Due to Independent Life & Pensions’ corporate activities, the firm also has non-wealth management clients who bring new business opportunities to the group, Perspective said.
It is the consolidator’s third acquisition since private equity firm CBPE Capital’s “major investment” at the end of 2019 and marks its 17th office in the UK.
Independent Life & Pensions' managing director Joe Hill will continue in his position while the financial planning and administrative team will transfer across in full.
Perspective is creating a new ‘hub’ through the acquisition and is therefore anticipating it will acquire a number of retiring IFAs within the area over the next 12-18 months.
Ian Wilkinson, chief executive at Perspective, said: “This acquisition is consistent with our overall growth strategy to open and develop new hub offices in carefully selected locations throughout the UK, coupled with our ongoing strategy to acquire quality ‘bolt on’ client banks from retiring IFAs.
“We are inheriting a very capable team of advisers and administrators and we have embraced Joe’s succession plans for the business.”
Mr Wilkinson added: “We have an extremely strong acquisition pipeline and expect to complete in excess of 10 deals over the next few months.”
According to Mr Hill, being bought by Perspective would enable Independent Life & Pensions to be “better placed to respond to the ever-changing landscape of financial advice”.
He added: “This move will provide long-term security to the provision of financial advice to our clients, and career security for our staff.
“I have been remarkably impressed with the way Perspective focuses on maintaining the local values of their regional offices.”
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