Consolidator Perspective acquires Gateshead IFA

IFA consolidator Perspective Financial Group has acquired Gateshead-based adviser Vivienne Shepherd, and plans to integrate the practice into one of its existing Newcastle businesses, Rutherford Wilkinson.

The purchase means the consolidator has brought in another £22m in assets under management and one member of staff will join the new offices to "ensure ongoing continuity for clients".

Owner-manager Vivienne Shepherd will de-authorise but remain involved in introducing clients to Rutherford Wilkinson over the next 12 months.

Damian Keeling (pictured), managing director of Perspective, explained why the company had deviated from its usual strategy with the latest purchase.

"Most of our acquisitions involve the IFA practice continuing to operate as normal however in this circumstance it made more sense for the firm to be integrated into our Newcastle hub," he said.

"This is due to the de-authorisation of Vivienne, the size of the practice and the proximity of the two businesses."

Perspective currently operates out of 20 offices and claims an annualised turnover of more than £23m from some £2bn in assets under management.