Perspective Acquires Primera Wealth Management, Marking Its 20th Acquisition Of 2023
23rd November 2023
Perspective Financial Group Ltd (Perspective) continues its impressive growth trajectory, acquiring Essex-based Primera Wealth Management Ltd. This marks Perspective's 20th acquisition this year and 76th overall since its founding in 2008.
Primera brings 340 new client households and £205 million in Assets Under Management (AUM) to Perspective. This acquisition strengthens Perspective's national presence, bringing the total number of staff to 500, local offices to 38, and financial planners to 140. With this expansion, Perspective now manages £8 billion of assets on behalf of its clients.
Perspective CEO Ian Wilkinson, expressed his enthusiasm about the company's progress:
“We feel very positive about the scale and pace of progress we have made in 2023 towards our goal of creating the best client-centric financial planning firm for both our clients and our people.
Successfully completing and integrating an acquisition every two to three weeks is a testament to the professionalism of our whole team. Our sustained growth is enabling us to become a better, not just bigger, firm, which is very important to us.
Ian Wilkinson emphasized that growth isn't just about size: “We remain highly selective in the firms we acquire – they must be genuinely client-centric, not just claim to be. In our experience, it’s easy to say those words, but another thing entirely to apply them in practice. The average length of our client relationships is 25 years and often spans four generations in a family, which are impressive benchmarks that say a lot about the level of expertise and service we consistently deliver to clients.”
“Our reputation for doing what we say and delivering on our promises in transactions has meant a number of firms have re-engaged with us after terminating discussions with other acquirers, when the latter have been unable to complete their proposed acquisition for various reasons.”
“Our Perspective Academy launched in 2014 is really proving its value in this high growth environment with over 40 people moving through it at any one time, both new hires and those joining via acquisitions.”
“As a financial planner myself with 30 years’ experience who still advises clients, I retain a strong belief in the benefits of developing and nurturing talent in-house. That way, people have the right values to be successful with us.”
“Given that two of the main motivations for firms in this sector wishing to sell up are the ability for the owners to retire in the near future, or to grow their business further with the resources of a larger group behind them, a strong pipeline of young, motivated talent coming up through our Academy is vital to ensure clients can rely on us over the long term.”
Primera Wealth Management directors Neil Donnelly and Mark Copsey shared their reasons for joining Perspective: “Over recent years, our attention has naturally been drawn towards the future of our business and the continuation of our advice to clients well into the future. After an exhaustive search, one business in particular, Perspective, stood out. We are therefore delighted to join them, as their ethos, ethics, and client-focused approach fully align with our own values.”
Chapters Capital is proud to have brokered this transaction. It has been a pleasure working with Neil, Mark and the acquisitions team at Perspective.
If you are interested in exploring options for your business, or specifically Perspective as an acquirer, please contact our team to book a confidential call.