Perspective Financial Group acquires ILPG

Perspective Financial Group Ltd (Perspective), the national financial planning and wealth management group, is delighted to announce that it has acquired Independent Life & Pensions Group (ILPG), a highly regarded financial planning firm based in Corby, Northamptonshire.

ILPG was founded in 1997 and has established an excellent reputation and strong client base advising individuals and companies across the Northamptonshire and Cambridgeshire regions.

ILPG currently advises 440 wealth management clients and manages £120 million of client assets. Due to ILPG’s corporate activities, it also has a significant number of non-wealth management clients who also continue to provide a good stream of new business opportunities. Joe Hill will continue as Managing Director at the office’s current location and
the financial planning and administrative team will transfer across in full.

This is Perspective’s 38th acquisition since it was founded in 2008, and its third since CBPE Capital LLP’s major investment in the Group. ILPG will provide a new location for Perspective, giving it a network of 17 offices across the UK.
Ian Wilkinson, Chief Executive Officer of Perspective Financial Group 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 looking to exit the industry, local to our existing extensive office network.
“We believe our offering for these two types of businesses is very compelling with our strong client-centric, whole of market and professional approach providing an excellent home for any vendor’s clients. For hub acquisitions, our attractive deal structure allows the Vendor to cap any ongoing regulatory liabilities and crystallise significant value whilst still retaining a stake to ensure they share in the future growth of the business.

“We believe our compelling offering is unique in the current market and is highly attractive for all stakeholders – the Vendors, the local team and of course the clients. Indeed, it is a deal that I would have selected had it been available when my firm was acquired by Perspective.

“We are inheriting a very capable team of advisers and administrators and we have embraced Joe’s succession plans for the business. As a new hub, we anticipate we will acquire a number of retiring IFA’s within the area over the next 12-18 months. We look forward to working closely with Joe and the team over the long term, providing support for the office to grow and prosper with our shared client-centric culture at the heart of everything we do.
“We have an extremely strong acquisition pipeline and expect to complete in excess of 10 deals over the next few months.”

Joe Hill, Managing Director of ILPG commented: “Our industry has undergone significant change recently and we are firmly of the opinion that becoming part of a larger group will enable ILPG to be better placed to respond to the ever-changing landscape of financial advice.

“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 focus on maintaining the local values of their regional offices. They are clearly committed to delivering outstanding client service and outcomes, and these qualities specifically attracted me to join Perspective.”

Perspective is also pleased to announce it recently made its 37th acquisition, details of which remain confidential.