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Perspective Financial Group will ‘accelerate growth journey’ after Charlesbank investment

Ian Wilkinson

A financial advisory and wealth management firm has pledged to treble staff numbers following fresh investment.

Perspective Financial Group has been backed by Charlesbank Capital Partners.

Bosses say the deal “enhances” Perspective’s “position as the UK’s premier client-centric financial planning firm”, adding it will help push the company’s near-500 strong team to “at least 1500 staff”.

Additionally, they say the support will more than double Perspective’s 40 office footprint – which includes bases in Newcastle, Darlington, Hexham and Harrogate, North Yorkshire – to in excess of 100.

The agreement will also build on a significant period of market growth for the business, which late last year hit the £7 billion assets under management mark following a flurry of takeovers.

Ian Wilkinson, Perspective chief executive [pictured, above], said: “As a standout firm in the sector, we had our choice of partners for the next phase of our development, and considered numerous potential investors.

“Charlesbank’s excellent track record of partnering with similar businesses and providing 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 more than 100 offices and at least 1500 staff, making us one of the largest whole-of-market independent financial advisors in the UK.

“There will be no changes to the way clients are serviced or charged, and we firmly believe our greater scale and resources will result in an enhanced client experience.”

Based in Boston, in the US, Charlesbank originally oversaw private equity investments inside the Harvard University endowment and became independent in 1998.

David Katz, managing director, said: “We feel extremely privileged to partner Ian and the talented Perspective management team.

“We look forward to working with them to continue to grow the group and cement Perspective as the UK’s premier independent provider of financial planning and investment management services.”

The deal will see Charlesbank replace CBPE Capital LLP as Perspective’s lead private equity investor.

Richard Thompson, CBPE partner, added: “We take immense pride in what we have achieved together and the quality of Perspective as a platform for further growth in the UK wealth management market.”

February 7, 2024

  • Business & Economy

Created by North East Times