Perspective Financial Group has bought Kent-based St Lawrence Investment & Pension Solutions in its eight deal of the year, alongside two senior hires.
The deal will see Perspective gain 175 clients and £55m in assets under management.
Ian Wilkinson, chief executive of Perspective, said: “This acquisition is further evidence of our position of being the ‘acquirer of choice’ for many high quality IFAs across the UK to add new locations to our growing network.
“St Lawrence fits our profile well with many of their client relationships averaging 25 years’ duration and spanning multiple generations.”
Wilkinson said it was essential the firms it acquired shared its “client-centric approach” and said the “flexible deal structure” it uses meant those wishing to sell can ensure the deal satisfies all their criteria.”
St Lawrence, founded by David Earl in 2002 and based in Canterbury, opened up a new location for Perspective in Kent where it already has offices in Maidstone.
Earl said it felt like “the right moment” to introduce additional strength and depth to support the services it provided to clients in this challenging and uncertain world.
“Whilst I have taken steps over the years to put in place systems and controls to support the business, being part of a larger organisation will provide our clients with a more robust financial advice service going forwards and ensure continuity across many aspects of the firm in the future,” he said.
“It will also assist with managing the increasing regulatory burden, which is no less post-Brexit than before, and historically has only ever increased in demands on my time.”
He added: “I considered several options and concluded that the best way forward was a merger with a larger firm that shares our values, levels of professionalism and client service ethic. I was keen to retain some practical elements that will help with ‘business as usual’ for our clients, including retaining our Canterbury office and avoiding disruption to our clients’ plans and portfolios”
As part of the deal, St Lawrence will be known as Perspective (South East) Ltd and the team will be moving over to Perspective.
Earl will remain a financial adviser and continue to lead the Canterbury office, and Perspective has said clients will notice relatively few changes apart from the name and branding.
In August, Perspective bought Wiltshire-based Avon Financial Advisers and this followed a series of purchases by the group in July in Warrington, Sevenoaks, Burford and Bury.
Perspective hires
The group also made a double hire with the appointment of Paul Everett in the newly created role of operations manager and Andrew Luczynski to the training and competence function as manager.
Everett joined Perspective’s management team with more than 30 years’ experience in financial services, most recently with regional IFA business Manse Capital in Yorkshire where he was managing director for four years.
In his new role, he will support the group’s operational strategies to further enhance its proposition and improve efficiencies.
He said: “I am delighted to be joining the Perspective team at an exciting period in the growth and development of the group. Having known the top team for five years or so I was very pleased to be offered the role and look forward to making a difference in 2022 and beyond.
“Everyone I have met so far has been very professional and welcoming, and clearly wants Perspective to succeed which I am absolutely sure we will do.”
Meanwhile, Luczynski's role will support further growth in the onboarding of advice teams following acquisitions, as well as developing existing staff.
He also has more than 30 years’ experience in financial services spent with national firms including Cooperative Financial Society and Chase de Vere.
He said: “I’m really excited to join such a progressive group with real drive, ambition and genuine client centricity. The commitment of my colleagues to building and sustaining long term growth through the ongoing development of the competence and skills of our financial advisers is impressive.’’
Wilkinson added: “I’m delighted to welcome David and his team to Perspective. Our two further senior hires in Paul and Andrew, both of whom have extensive sector expertise, continues our strategy of strengthening and broadening our management team to support our acquisitive and organic growth goals in 2022 and beyond, whilst ensuring our clients remain at the heart of everything we do.”
sonia.rach@ft.com
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