Perspective further raises its growth trajectory
July 28, 2021
Perspective Financial Group Ltd (Perspective), the national financial planning and wealth management firm, today announces it has completed the acquisition of four IFA firms in Warrington, Sevenoaks, Burford and Bury, and also made two senior hires which further bolsters its management team.
Perspective has bought Prolific Financial Services Ltd (Prolific) in Warrington, Cheshire, opening up a new location for the group and increasing its network of local offices to 19. The firm, founded in 2001 by Phil Newton and Simon Allan, has a client base of individuals and corporates across the North West with many strong connections with fellow professional services firms in the region. All six Prolific staff and directors have transferred across to Perspective, with Phil and Simon continuing to lead the office.
The second acquisition is Evolve Financial Management Ltd (Evolve), a sole-adviser IFA based in Sevenoaks, Kent. Founded by Mike Fisher 20 years ago, Evolve’s clients will now be served from Perspective’s existing nearby office in Maidstone with Mike retiring.
The group’s third acquisition is Bowman Financial Planning Ltd (Bowman) in Burford, Oxfordshire which will join Perspective’s existing nearby office in Woodstock. Founded in 1993 by Paul Catling, Bowman has grown significantly through personal recommendations from existing clients, lawyers and accountants. Two members of staff from Bowman are transferring across, whilst Paul and other advisers will be retiring later this year.
Perspective’s fourth acquisition is Quantum Portfolio Management Ltd (Quantum) in Bury, Lancashire, a specialist adviser to recipients of substantial damages settlements resulting from catastrophic personal injury and medical negligence claims. Founded by Nigel Minay and Kelvin Barlow in 2003, the firm works very closely over the long-term with its clients and their families, their other professional
advisers and personal support teams. Much of its work involves the Court of Protection. Perspective’s Thomas Harrison will become the lead adviser.
Collectively, these four acquisitions add 600 clients and £350 million AUM, giving Perspective a total of 23,000 clients and £3.6 billion AUM.
Perspective has also made two senior industry appointments. Fay Anderson joins from intelliflo where she held various senior client-facing roles during her 17-year career there. She now heads up implementation of the latest intelliflo systems across
Perspective’s 19 offices. Fay commented: “I was drawn to Perspective as they have the feel of a local firm but the strength of a national one. I am delighted to bring my experience of working for intelliflo to Perspective.”
Stuart Groves joins as manager in the Training & Competence function to support growth in the onboarding of advice teams following acquisitions, as well as developing existing staff.
Stuart whose career spans more than 20 years with Bradford & Bingley and Prudential added: “Since joining Perspective I have been overwhelmed by the passion across the business for genuinely putting clients at the heart of everything.
“It’s refreshing how Perspective’s advisory and compliance functions work hand in hand in a positive way for the benefit of clients, rather than the all too common ‘us and them’ culture I’ve experienced elsewhere. I have also been impressed with the enthusiasm and motivation of all staff and their ‘one big family’ culture”.
Ian Wilkinson, Chief Executive Officer of Perspective said: “These acquisitions and senior hires are further decisive steps in our journey to become the leading firm in the financial planning and wealth management sector for both clients and staff alike. We see a growing demand for the type of expert, specialised advice we offer that enables clients to make full and effective use of their financial resources, so they can plan for and achieve the futures they desire.
“Our client relationships average 25 years’ duration and many span four generations, so we are confident about the quality of our advice and the value for money we offer.
“Acquisitions are still a major strategic driver and as a minimum, we will complete at least the same number of deals in the second half of 2021 as we have done in the first half. These vary in size from one-man bands to larger established firms that enable us to add to our network of local offices. We remain interested in deals at both ends of the size scale.
“We continue to work closely at both a local and national level with accountants and lawyers who share our standards of client service, technical excellence and value for money and we are keen to grow these connections. In my experience, the combined knowledge of these three professions (financial planning, accountancy and law) is fundamental to delivering practical, joined-up advice to clients.
“Fay and Stuart are great additions to our team. They are both already working effectively with our advisers, paraplanners and admin staff in all our offices. It is particularly gratifying that with their long industry experience, the two of them chose to join Perspective at this time.
“We are ambitious, acquisitive and growing organically. Together with CBPE Capital LLP who invested in us in December 2019, we are well on our way towards setting the standard for excellence in financial planning and wealth management, and therefore being the firm of choice for clients and staff alike.
“I am enormously proud of what the team has achieved over the last 13 years but am even more confident that Perspective’s best years are yet to come.”