Perspective raises £3.5m to fund more deals

PERSPECTIVE Financial Group has raised a further £3.5m from its bank, Lloyds Wholesale Banking & Markets.

The Wilmslow-based company, which is a consolidation vehicle for practices of Independent Financial Advisors, said the money would be used to to fund further acquisitions and to help drive its growth strategy.

Perspective Financial Group is currently one of the Top 15 UK IFA groups by revenue size.  It operates out of 20 offices and employs over 220 people. It has an annualised turnover of over £23 million, with more than £2bn of assets under management.

Damian Keeling, managing director of Perspective Financial Group, said: “We are pleased to announce this further round of finance raising activity that provides £3.5 million to Perspective in order to fund both future acquisitions and the ongoing organic growth of the group.  

“Perspective has always had a very strong backing from both our funders, Lloyds Banking Group and Mosaic Private Equity.  The continued commitment from Lloyds Bank Wholesale Banking and Markets with this new facility is a further vote of confidence in what we are achieving here at Perspective.

“Throughout 2011, we added a number of IFA practices to the group and there are likely to be further acquisitions throughout 2012.”

Noel Stubley, director at Lloyds Bank Wholesale Banking and Markets in Manchester, said: “Perspective Financial Group is on a highly positive trajectory and continues to expand its portfolio with further acquisitions.

“This year will mark a turning point for the IFA sector and Perspective is well-placed to overcome the challenges facing the industry and flourish.”