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Business & Economy

Perspective makes first acquisition of 2022 and reveals new director

A financial planning firm has expanded with another acquisition and made a senior appointment.

Perspective Financial Group (Perspective) has completed a deal for Warwickshire’s Beanland Financial Services.

It has also recruited Gary Cairns as regional operations director, from Chase de Vere.

Bosses say the Beanland deal adds 560 households as clients and around £160 million assets under management (AUM) to the group, meaning it achieves the £4 billion AUM milestone.

They say it also opens up an additional location for Perspective, giving the group 19 offices across the UK – which includes sites in Newcastle and Darlington.

John Garvey and Colin Pritchard, Beanland directors, said: “Over the past few years our attention has naturally been drawn towards succession planning, the future of our business and the continuation of our advice and ongoing services. In addition, as with all firms like ours, we have seen a gradual increase in the burden and costs of regulation.

“We decided the best solution for our clients and our staff was to seek a merger with a larger partner and, after an exhaustive search, we are delighted to become part of Perspective. They clearly share our ethos, ethics and client focused approach.

“We are very confident this move will provide long term security to the provision of financial advice to our clients and career security for our staff.

“We have been delighted by the way Perspective have engaged with us on this process.

“Their team have all been highly professional, responsive and place great emphasis on the client always coming first. They share our belief in the importance of retaining our local, long-established office, adding the support and strength of a national group.

“We are both delighted to remain as financial planners and to continue leading the office.

“As such, clients will notice relatively few changes other than our new name and branding. We are delighted that the rest of our team will also be joining Perspective.”

Ian Wilkinson, Perspective chief executive [pictured above], added: “This acquisition is yet 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.

“Beanland fits our profile well with many of their client relationships averaging 25 years’ duration and spanning multiple generations.

“For us, it’s essential the firms we acquire share our client-centric approach as this is absolutely fundamental to our success.

“Our flexible deal structure means those wishing to sell can ensure the deal satisfies all their criteria – so it’s a positive move at the right time for their clients and their staff, as well as for them personally, professionally and financially.”

In a further step, Gary has been appointed to the new role of regional operations director.

He joins from Chase de Vere, where he was senior manager in Yorkshire, leading the personal wealth division. Previously, Gary worked with HSBC and Bank of Scotland.

Gary said: “I am delighted to be joining Perspective at this exciting stage of the growth in the wider group.

“It was very clear in my discussions with Perspective that they lived the client first approach, with the whole team focused on achieving this. I look forward to working with the office principals and wider leadership team on our growth plans for 2022 and beyond.”