Perspective Financial Group grows again with Avon deal

A financial planning and wealth management company has made another acquisition.

Perspective Financial Group has taken on Wiltshire-based Avon Financial Advisers.

Bosses say the agreement adds 240 clients and £42 million of assets under management (AUM) to the business.

Confirmation of the deal comes just days after Perspective, which has offices in Newcastle and Darlington, announced the acquisitions of companies in Warrington, Kent, Oxfordshire and Bury, adding £350 million AUM and 600 clients to its books.

Its latest takeover coincides with the retirement of Avon founder Stephen Cook and Ian Wilkinson [pictured below], Perspective chief executive, said it represents “a positive move at the right time”.

He said: “This acquisition is further evidence of our position of being the ‘acquirer of choice’ for retiring independent financial advisers (IFAs).

“Avon 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 for retiring IFAs 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.”

Under the terms of the deal, Avon, based in Chippenham, will become part of Perspective’s Marlborough office.

Reflecting on the acquisition, Stephen, who has more than 45 years’ experience in financial services, said: “I had not originally intended to retire yet, but the COVID-19 pandemic made me reflect on matters.

“I came to the view that my clients are now best served by Avon becoming part of a larger firm.

“I know that Perspective shares my ethos, ethics and client-centric approach. This move will provide long-term security for the provision of financial advice to my clients and enable me to retire knowing they are in excellent hands.

“A key factor for me was Perspective’s ability to combine the feel of a local firm with the strength of a national one.

“This means that some of my clients, who over the years have moved away from Chippenham, will now be served by a number of Perspective’s offices in other areas of the UK including Newcastle.”