Perspective adds £220m AUM with double acquisition
Fast-growing wealth manager and Financial Planner Perspective has has made two new acquisitions, adding £220m in AUM and boosting its total number of adviser firm takeovers so far this year to 17, with seven more to come in the next few months.
It has taken over Campbell Harrison in Sheffield and Strategic Financial Portfolios in Halesowen, adding 800 households as clients and two new local offices.
The Chorley, Lancs-based firm has now made 73 acquisitions since being founded 16 years ago and now has 35 offices across the UK, 120 financial planners and a total of 450 staff.
It said it has exchanged contracts on a further seven deals which will all complete in the coming months.
Ian Wilkinson, chief executive of Perspective said: “Our pipeline remains extremely strong and continues to grow month on month.”
He said Perspective has re-engaged with half a dozen firms over the past two months that have recently terminated discussions with other acquirers, as other acquirers have been unable to complete their proposed acquisition for various reasons.
Alex Campbell, director of Campbell Harrison, will remain with the firm for a short period after the takeover to ensure a smooth handover before retiring.
He said: “It impresses me that Perspective’s CEO is still a practicing financial adviser, in contrast to many firms whose senior management don’t have recent or any experience of providing advice to clients. I share their view that ‘If you look after the client first, you will run a successful company’”.
Mohammed Bostan and Robert Anglin, directors of Strategic Financial Portfolios since 2005 said: “It mattered to us both that we would still run our local office with the existing team in the same location, but under Perspective’s input and guidance. We were both struck by the positive ‘can-do’ vibe that Perspective exhibits.”