UK-based financial planning and wealth management firm Perspective Financial Group has acquired St Lawrence Investment & Pension Solutions for an undisclosed sum.
This is Perspective’s eighth M&A deal this year and it expands the company’s national footprint to Canterbury in Kent.
The acquisition brings in £55m ($73m, €64m) AUM, as well as 175 clients.
St Lawrence was founded by David Earl in 2002. He said: “I feel that now is the right moment to introduce additional strength and depth to support the services we provide to our clients in this challenging and uncertain world.
“Whilst I have taken steps over the years to put in place systems and controls to support the business, being part of a larger organisation will provide our clients with a more robust financial advice service going forwards and ensure continuity across many aspects of the firm in the future.
“It will also assist with managing the increasing regulatory burden, which is no less post-Brexit than before, and historically has only ever increased in demands on my time.
“I was keen to retain some practical elements that will help with ‘business as usual’ for our clients, including retaining our Canterbury office and avoiding disruption to our clients’ plans and portfolios.
“This is a very compelling proposition which I am very confident will deliver long term security to the provision of financial advice to our clients and career security for our staff.
“I am pleased to be remaining as a financial adviser and will continue to lead the Canterbury office, so clients will notice relatively few changes other than our new name and branding. We will be known as Perspective (South East) Limited. I am also delighted that the rest of the team here will also be joining Perspective.”
People moves
Perspective has also made two senior hires.
Paul Everett joins as operations manager from regional IFA business Manse Capital in Yorkshire, where he served as managing director for four years.
While Andrew Luczynski will take on the role of training and competence manager to support the firm’s growth in the onboarding of advice teams following acquisitions. He previously held positions at Co-operative Financial Services and Chase de Vere.
Ian Wilkinson, chief executive of Perspective, said: “This acquisition is further evidence of our position of being the ‘acquirer of choice’ for many high quality IFAs across the UK to add new locations to our growing network. St Lawrence fits our profile well with many of their client relationships averaging 25 years’ duration and spanning multiple generations.
“For us, it’s essential the firms we acquire share our client-centric approach as this is absolutely fundamental to our success. Our flexible deal structure means those wishing to sell can ensure the deal satisfies all their criteria – so it’s a positive move at the right time for their clients and their staff, as well as for them personally, professionally and financially.
“Our two further senior hires in Paul and Andrew, both of whom have extensive sector expertise, continues our strategy of strengthening and broadening our management team to support our acquisitive and organic growth goals in 2022 and beyond, whilst ensuring our clients remain at the heart of everything we do.”
Perspective acquired Wiltshire-based Avon Financial Advisers in August 2021, as well as completing four M&A deals in July 2021.
