Perspective purchases eighth IFA firm

Perspective purchases eighth IFA firm



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Perspective Financial Group Ltd, the consolidation vehicle for IFA firms, has announced the acquisition of McGregors Wealth Management (MWM), the eighth firm to be brought under the Perspective umbrella. 

Based in Lincoln, MWM is an IFA firm with a turnover of £500,000 per annum with funds under management of approximately £20 million. MWM becomes the second IFA firm to join the Perspective Group within two months.

 

With this latest acquisition, Perspective’s annualised turnover has been boosted to £9 million, funds under advisory and management are increased to around £500 million, with a recurring income of £4.5 million. Perspective also has an annualised EBITDA (earnings before interest, tax, depreciation and amortisation) at operating level of over £3 million.

 

As with all Perspective acquisitions, MWM will continue to trade under its current name with the existing management team remaining at the firm to operate and develop the business.

 

Damian Keeling, Managing Director at Perspective Financial Group Ltd, commented: “We are delighted to announce the acquisition of McGregors Wealth Management – the second IFA practice to join us within the last two months and our eighth Group firm in total. At a time when many other consolidators are retreating from the market, we at Perspective continue to recognise the opportunities that exist for both individual firms and ourselves, and we therefore continue to seek quality IFAs, such as MWM, that share our values and ethos in terms of the provision of quality advice.”

 

Hugh Wood, Managing Director of MWM, said: “Becoming part of the Perspective Group certainly adds a considerable amount to the overall MWM proposition and gives us the necessary financial strength and security to help develop the business as we would wish to. Perspective offers a number of key benefits, not least the ability to maintain our brand and for the existing management team to remain in situ and continue to help grow the firm. We are looking forward to the growth of the relationship and our clients will benefit greatly from MWM being under the Perspective umbrella.”

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