Perspective boosted by £3.5m finance facility

IFA consolidator Perspective Financial Group has raised a finance facility of £3.5m to fund further acquisitions.

It has raised the money through one of its existing backers, Lloyds Bank Wholesale Banking and Markets.

Damian Keeling, managing director of Perspective, said: "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.

"We presented a three-year business plan to the bank and its strategic debt team has developed a strong funding package that will help us achieve the initial aims and objectives set out in that document."

Perspective currently operates out of 20 offices, having made 24 acquisitions since launching in 2008.

It currently has more than £2bn of assets under management and claims to have annualised turnover of more than £23m.

In March last year, the company raised £10.6m through a £7.1m investment from original backer Mosaic Private Equity and a £3.5m acquisition facility from Lloyds Banking Group.