US-based Charlesbank Capital Partners has become the lead private equity investor of Perspective Financial Group.
The firm will succeed the previous investor, CBPE Capital who has invested in Perspective since 2019.
The management team will remain significant shareholders alongside Charlesbank.
Charlesbank is a private investment firm that focuses on management-led buyouts, growth capital financings and credit and technology investments.
Ian Wilkinson, chief executive at Perspective, said: “Charlesbank’s excellent track record of partnering with similar businesses and providing strategic resources and financial support will enable us to further accelerate the pace and scale of our growth journey.
“Our vision will see our footprint expand to over 100 offices and at least 1,500 staff, making us one of the largest whole-of-market IFAs in the UK.
"There will be no changes to the way in which our clients are serviced or charged as result of this transaction, and we firmly believe that our greater scale and resources will result in both an overall reduction in the TER’s paid by our clients and an enhanced client experience.”
Perspective has £8bn in assets under advice and has made over 80 acquisitions since its inception in 2008.
David Katz, managing director at Charlesbank, said: “We have been thoroughly impressed by Perspective’s client-first ethos, which has established Perspective as a leading provider of impartial, high-quality financial advice in the UK.
“Complementing the Group’s ethical, client-centric culture, their differentiated centralised services and technology have made Perspective a terrific home for advisers and the IFA acquirer of choice, as evidenced by the numerous acquisitions they have successfully completed to date.”
Perspective recently purchased the client banks of Simon McGechie and Paul Adams, both former Fairstone Financial Management colleagues.
This took the number of deals made by Perspective in 2023 to 22 and added £55mn of assets under management.
alina.khan@ft.com
