Perspective Financial Group has acquired Cambridgeshire-based advice firm Ramsey Financial for an undisclosed sum.
Set up in 2007, it is run by husband-and-wife team Russell and Jane Palmer, both of whom will remain with the company.
It marks Perspective’s 51st acquisition and adds a 22nd office to the group, expanding its coverage of Cambridgeshire and East Anglia and dovetailing with offices in Corby and Braintree. It bought four firms in March.
Ramsey Financial has £50m ($63.8m, €59.4m) of assets under management and 330 households as clients.
Continue to seek more good acquisition opportunities
Ian Wilkinson, chief executive of Perspective, said: “This acquisition again reinforces our appeal to smaller, high-quality firms such as Russell and Jane’s, who demonstrably share our client-centric values. We offer an attractive route forward so they can continue to develop their business whilst having the reassurance of a clear, sustainable succession plan when they are ready to retire for both them and their clients.
“We continue to seek more good acquisition opportunities and have a very full pipeline for 2022 and into 2023.”
Russell Palmer added: “We launched our business in 2007 and since that time we have experienced tremendous growth due to numerous recommendations from existing clients and professional connections for which we are immensely grateful.
“To sustain and grow the business further we now need help and support. We also want to be happy that we have a business that provides a continued high level of service for our clients, not just now, but long into the future. Recruitment of suitable advisers within financial services has proved difficult and the mechanics and costs of running a business, alongside providing a high level of client service, takes more and more of our time and energy.
“With this in mind, we decided the best solution for our clients and for us, was to seek a merger with a larger partner who could take many of the pressures of running the business off our shoulders as well as providing a guarantee of continuity for clients when we make our decision at some point in the future to retire.”
