Perspective Financial Group is continuing to look for “high quality acquisition opportunities” after making its 33rd purchase since forming in 2008.
The UK-based wealth manager has acquired IFA firm Investment Principles for an undisclosed fee.
Investment Principles, founded and run by Kathy Richards, has a client base in northwest England from the Wirral to Shropshire and will become part of Perspective’s ‘West’ operation, which has offices in both Chester and Oswestry.
Ian Wilkinson, group practice director of Perspective, said: “This is another good acquisition for Perspective of a high quality, well-respected IFA firm which further builds our presence in northwest England, an area of strength for the group where we already have a significant client base which we are keen to build further.
“We continue to look at similar high-quality acquisition opportunities across the UK to further strengthen our national presence.”
The group’s focus is to merge established financial advisory firms within the group to service clients from its existing 14 offices across the UK.
This comes less than a month after Perspective announced it had acquired Galloway Whitfield (Life & Pensions), a northeast-based firm.
Firm joins the acquisition hungry UK market
Elsewhere, Tunbridge Wells-based Finitor Wealth has acquired a stake in IFA firm PFM Associates following funding of £2.8m ($3.7m, €3.2m) from specialist lender SME Capital.
The firm has only just opened for business but is already become active in the wealth M&A sector.
Finitor’s chief executive Paul Stokes, formerly of HSBC Global Asset Management (International), told International Adviser that it does not see itself as a “traditional consolidator”.
He added that Finitor is looking to become a national firm by acquiring businesses that have a good regional presence.
It does not “want to make too many partnerships” but concentrate on creating joint ventures with a number of “high quality firms” instead.
The financial terms of the deal were not disclosed.
