Perspective Financial Group Completes Nine IFA Acquisitions Ahead of CGT Increase
- Simon Bourke
- Nov 5, 2024
- 1 min read
Updated: Nov 14, 2024
5th November 2024
Amid increasing pressure from expected tax hikes, Perspective Financial Group has successfully completed nine acquisitions, signifying significant growth as advisers expedite their sales timelines. Among these acquisitions is Fortitude Financial Planning, based in Northamptonshire and recognised as a Citywire New Model Adviser Top 100 firm. Other acquisitions include Springfield Financial Services in Preston and Millfield Osceola Financial Consultancy in Reading.
These acquisitions occurred just before Chancellor Rachel Reeves’ Budget announcement, which detailed a phased increase in capital gains tax (CGT) rates for business asset disposal relief. Starting in April 2025, the rate will rise from 10% to 14% and increase further to 18% in April 2026. CEO Ian Wilkinson emphasised the urgency felt by advisers as they face these forthcoming tax changes, noting that the Budget has prompted sellers to finalise deals more quickly.
Perspective’s recent acquisitions have added 2,500 households as clients, increased assets under management by £1bn, and expanded its national presence with six new office locations. Supported by Charlesbank Capital Partners, the consolidator has completed 102 acquisitions, bringing its total assets under management to £9bn while adding a substantial number of clients and staff.
With complex tax changes on the horizon, strategic timing is essential for businesses considering sales or expansion to take advantage of the current low CGT rate.
At Chapters Capital, we specialise in financial planning and wealth management M&A and are here to help you explore this opportunity and navigate industry shifts. Contact our experienced associates today for a confidential, no-obligation consultation.
