Perspective snaps up four firms to hit 50th milestone

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Perspective snaps up four firms to hit 50th milestone
Ian Wilkinson, chief executive officer of Perspective

Perspective Financial Group has bought a further four firms ranging in size from £10mn to £175mn assets under management, taking its total number of acquisitions to 50.

The purchases include Searchlight Investments, based in Rickmansworth, Stafford Wealth Management in Hertford, TCS Life and Pensions & The MGroup Financial Services in Oxford and a financial adviser in Maidstone.

The four purchases add a total of 915 clients, £335mn Aum, 11 staff and two new offices in Hertford and Rickmansworth. 

Richard Pipe and Simon Alway, directors of Searchlight Investments, with 430 clients and £175mn Aum, said: “It was of paramount importance to us that any purchaser shared our core values and genuinely put clients at the heart of their proposition. In Perspective, we have found the firm we are confident will deliver financial planning and wealth management services to our valued clients in the years ahead. 

“We look forward to working alongside Perspective to complete a successful integration and feel confident that, in time, we are leaving the business and our team with a highly professional company. They bring a great deal of experience to the acquisition process which has proved invaluable.” 

Likewise, Mike and Phil Stafford, directors of Stafford Wealth Management with 275 clients, said: “Exit planning is not something that can be done overnight and we spent several years plotting our exit route as we approached retirement.  

“Part of the planning meant researching the succession marketplace to find a like-minded firm with similar values that would cherish our clients and staff as we do. We are delighted we have found that in Perspective and are confident our clients and staff are in safe hands for the future.” 

Perspective Group, which was founded in 2008, received a major capital injection by CBPE Capital LLP in December 2019. 

Over this time, it has made 18 acquisitions, doubled headcount to 280 staff, added £1.2bn Aum and opened seven new local offices, making a total of 21. 

Last month, it bought Warwickshire-based adviser Beanland Financial Services in its first deal of the year, taking its assets under management to £4bn.

Ian Wilkinson, chief executive officer of Perspective, said: “It has been an exceptionally busy time for us and I am delighted by the progress we have made. We have a very clear sense of direction, are delivering at pace and constantly innovating. We have recently articulated our purpose and the values which we have lived by for over three decades, and these very much drive everything about the firm.  

“We are regarded as the acquirer of choice for firms who are truly client-centric and we continue to seek more good opportunities. We have proactive approaches from high quality firms looking  to find a secure succession route as the founders themselves near retirement.”

He added: “The feedback from them is that our combination of retaining their local office and staff where appropriate, lifting  some of the compliance burden from their shoulders, and having access to the resources and security of a larger organisation is highly attractive."

in addition, TCS Life and Pensions & The MGroup Financial Services has 175 clients and £58mn Aum. This firm will now become part of Perspective’s existing office in Woodstock.

John Burrill and Richard Hall, directors at the firm, said: “We had several objectives when we began investigating our options for a possible merger or sale, which included looking for a ‘partner’ that would enable us to take all aspects of our business forward, including succession planning and a recognition of economies of scale. With their national network of offices, some of our far-flung clients can now more easily be seen face to face."

Andrew Whitehouse, a financial adviser moving over 35 clients and £10mn Aum, added: “I was introduced to Perspective at exactly the right time. Their values, approach to client service and  people are exactly what I was seeking. I am very comfortable with handing over responsibility for  looking after all my clients to their existing office in Maidstone.” 

Elsewhere, Perspective announced it has appointed Kristian Murphy as senior compliance manager.

Murphy joins from EY and has relocated to Perspective’s largest office in Newcastle upon Tyne. 

He said: “When I decided to move from consultancy into industry, it was important for me to join an ambitious firm which genuinely puts  its clients’ best interests first, but also had the depth of knowledge and expertise required to deliver.  

“It was clear from early on in my discussions with Perspective that this was the case and that I’d be a good fit culturally. Since joining, I have been incredibly impressed with not only the quality of  the people within the team, but also the strategy and operational set up of our acquisitions process. I believe we are set up for success and are in a strong position to acquire at pace.” 

These four deals take the total of this year to five but follow on from an active 2021 for Perspective in the M&A market.

In November, Perspective bought Kent-based St Lawrence Investment & Pension Solutions in its eighth deal of the year, alongside two senior hires.

In August, Perspective bought Wiltshire-based Avon Financial Advisers which followed a series of purchases by the group the previous month in Warrington, Sevenoaks, Burford and Bury.

sonia.rach@ft.com

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