UK-based Perspective Financial Group has completed three M&A deals bolstering its offices in Newcastle upon Tyne, Darlington and Dinnington.
In total, the acquisitions add 290 households as clients and £70m in assets under management (AuM) to Perspective.
Perspective has bought Esk Valley Financial Services in Redcar on a trade and asset basis. Founded by Paul Gatenby in 2002, the firm has 150 households as clients and £30m ($33.2m, €34.2m) in AuM with a client bank predominantly comprising rural and farming clients stretching from Whitby to Guisborough.
Gatenby is retiring from the industry.
The second acquisition sees Jeff Thurlbeck join Perspective as a financial planner, bringing across 100 households as clients and £20m in AuM. Thurlbeck’s client base is focused on the Barnard Castle and Richmond areas of County Durham and north Yorkshire.
He was previously at Pearl Assurance, Co-Op Insurance Services and InvestAcc.
Lastly, the IFA company has acquired Nottinghamshire-based firm Paul J Flynn. The firm serves 40 households and has £20m in AuM. It was previously part of the Quilter network and Paul Flynn is retiring.
As part of the deal, a number of clients will be served by one of Perspective’s offices in the south, more local to where they now live.
‘Biggest ever pipeline of acquisitions’
Ian Wilkinson, chief executive of Perspective said: “This latest trio of acquisitions demonstrates our strong appeal to small, high quality firms and individuals, where we offer an excellent future for the client banks they have carefully built and cherished over several years.
“We’re delighted both retiring advisers and those wishing to continue practicing but wanting to spend their time providing advice to clients rather than running their business, see the appeal of becoming part of Perspective. Our ability to combine the benefits of local offices with the strengths of a national firm, including succession planning and regulatory expertise, remains very attractive to vendors.
“We have our biggest ever pipeline of acquisitions both large and small over the next 18 months and relish the opportunity to grow Perspective at scale and pace.”
The company has now made nine acquisitions in 2022 – after completing its most recent deal in April.
