Consolidator Perspective makes it 22 buys in three years

IFA consolidator Perspective Financial Group has made its first acquisitions of 2011 to take its tally to 22 since inception three years ago.

The Wilmslow-based group has acquired Shirebrook Wealth Management (formerly Shirebrook Financial Services), based in Lancashire, and Austyn James Consulting, based in Buckinghamshire.

Shirebrook has five registered individuals (RIs) and eight other staff members who manage client funds worth £110m, generating an annual turnover of £1.2m.

Austyn James Consulting, whose director Austyn Smith is its sole RI, has an annual turnover of £1.2m and about £70m funds under management.

Perspective Financial, formed in 2008, offers the principals of IFA businesses exit strategies, retirement plans and consolidation options. It does not interfere with the day-to-day running of the business, or its branding, and largely bases its buying decisions on firms' renewal income streams.

The addition of Shirebrook and Austyn James increases the group's annualised turnover to more than £19m.

Managing director Damian Keeling (pictured) said the firm anticipates making at least a further four acquisitions before the end of the year.

"We are not in the business of acquiring firms just for the sake of boosting numbers," he said. "Any future purchases we make will be based on our model of bringing in quality, profitable, ‘new model' firms that have strong recurring income and EBITDA levels."