Buyouts add depth to Perspective

PERSPECTIVE Financial Group has announced a 44% increase in revenues for the six months to June 30 to £8.8m.

The Wilmslow-based consolidation vehicle for Independent Financial Advisor (IFA) practices said that within the past year, the amount of assets under its management have doubled to £2.2bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased to £2.3m (2010: £1.6m).

The company also experienced a near four-fold rise in pre-tax profits to £447,000 (£113,000).

Perspective Financial Group is backed by Manchester-based Mosaic Private Equity. Since its formation three years ago, Perspective has snapped up 23 IFAs, with the most recent being Oxfordshire-based McGrath Rathbone in July.

Managing director Damian Keeling said: “Following on from our record 2010 results, the first half year of 2011 shows a further strong financial performance.  
“We are particularly pleased to record a strong pre-tax profit, though of more relevance is the 44% increase in EBITDA, which is very pleasing. 

“Our strategy continues to be one of organic growth and selective acquisition, and we are on budget and on target for our 2011 forecasts.”