Perspective Financial Group continues acquisitive growth

Chorley-based financial planning and wealth management specialist Perspective Financial Group has expanded with the acquisition of Atkinson White Partnership. The target company is based in Darlington and manages £130 million in client assets across its 500-strong client base, which covers individuals and businesses in the North East.

The acquisition is Perspective’s 39th since its formation in 2008 as well as already being its third of 2021. The deal for Atkinson White is also its fourth acquisition since it was backed by private equity firm CBPE Capital LLP in January 2020. Since it was founded, Perspective has carved out a niche as a consolidator of financial advisory firms where the current owners are retiring.

Atkinson White Partnership founders Simon Atkinson and Neil White have also made this decision, but will stay on as consultants for the next three months. The company’s financial planning and administrative team will transfer across to the new group in full, while the office’s current location will remain.

The deal represents Perspective’s first in Darlington and brings its national network of offices up to 18 and its assets under management up to £3.2 billion.

Perspective Financial Group Chief Executive Ian Wilkinson said: "This acquisition further strengthens our national network giving us an additional local office in the important Darlington, Teesside and North Yorkshire region.”

"It is consistent with our overall growth strategy to open and develop new hub offices in carefully selected locations throughout the UK and acquire quality bolt-on client banks from retiring IFAs looking to exit the industry. This deal is a combination of both elements."

“We believe our offering for these types of businesses is very compelling with our strong client-centric, whole of market and professional approach providing an excellent home for any vendor's clients. For hub acquisitions, our attractive deal structure allows the Vendor to cap any ongoing regulatory liabilities and crystallise significant value whilst still retaining a stake to ensure they share in the future growth of the business.”

In its most recent financial accounts, for the year ended December 31 2019, Perspective Financial Group registered a £1.2 million pre-tax loss on turnover of close to £17.5 million. At the time, the company’s total equity was valued at £17.1 million, up from liabilities of £9.7 million a year earlier.


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