Perspective buys Equilibrium Wealth Management

Perspective Financial Group has acquired Equilibrium Wealth Management, bringing its total number of acquisitions to 19.

With seven registered individuals and a total of 16 staff members, the Marlborough-based IFA specialises in the provision of wealth management advice to both individual clients and companies covering retirement planning, investment and tax planning, as well as employee benefits.

Established in May 1995, it has an annual turnover of £1.7m, funds under management of approximately £160m and £444,000 of recurring income.

This brings Perspective's total annualised turnover to nearly £17m, with funds under advisory and management now totalling over £1.3bn and recurring income at £8.5bn.

Tony Apps, director of Equilibrium Wealth Management Ltd, says: "We certainly see our move beneath the Perspective umbrella as a fantastic opportunity to deliver not just financial stability to the firm but to also ensure we have the best support available as we move towards RDR-readiness.

"The degree of autonomy afforded to us by Perspective also ensures we are in control of our own destiny but backed by a quality organisation that can help us meet all our goals and ambitions in the months and years ahead."

Perspective has indicated it will make one further acquisition before the end of 2010, bringing the total number of firms bought during the last 12 months up to eight.

Damian Keeling, MD of Perspective Financial Group, says: "The acquisition of Equilibrium Wealth Management again proves Perspective's focus is on purchasing profitable, well-managed IFA businesses that want to secure their own financial futures whilst at the same time continue to manage and grow their firm with our support.

"With Equilibrium joining the Group we not only move into a new region but we add considerable breadth and depth to our offering including the addition of seven new RIs.

"Our pipeline of potential acquisitions is strong as we move into next year however we always welcome new enquiries and would urge those firms thinking about their futures and their place within the market and the new RDR environment, to contact us to discuss how we may be able to help and support them."