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IFA firm makes double M&A swoop

It has an ‘extremely strong’ pipeline and expects to complete ‘in excess of 10 deals’ in coming months

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UK-based firm Perspective Financial Group has acquired Independent Life & Pensions Group (ILPG), a financial planning firm based in Corby, Northamptonshire.

The financial terms of the deal were not disclosed.

Perspective also confirmed that it had completed its 37th M&A deal prior to the ILPG acquisition, however details “remain confidential”.

Details

ILPG was founded in 1997, advises 440 wealth management clients and manages £120m ($163m, €134m) in client assets.

Joe Hill will continue as managing director at the office’s current location and the financial planning and administrative team will transfer across in full.

This is Perspective’s 38th acquisition since it was founded in 2008, and its third since CBPE Capital’s investment in the group.

ILPG will provide a new location for Perspective, giving it a network of 17 offices across the UK.

‘Extremely strong pipeline’

Ian Wilkinson, chief executive of Perspective Financial Group, said: “We are inheriting a very capable team of advisers and administrators and we have embraced Joe’s succession plans for the business.

“As a new hub, we anticipate we will acquire a number of retiring IFA’s within the area over the next 12-18 months.

“We have an extremely strong acquisition pipeline and expect to complete in excess of 10 deals over the next few months.”

Strategy

Wilkinson added: “This acquisition is consistent with our overall growth strategy to open and develop new hub offices in carefully selected locations throughout the UK, coupled with our ongoing strategy to acquire quality ‘bolt on’ client banks from retiring IFAs looking to exit the industry, local to our existing extensive office network.

“We believe our offering for these two 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.

“We believe our compelling offering is unique in the current market and is highly attractive for all stakeholders – the Vendors, the local team and of course the clients.”

Prior to the double deal, Perspective acquired Wiltshire-based financial advisory firm Jones Hill for an undisclosed sum in September 2020.

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