IFA consolidator Perspective Financial Group has put itself up for sale, according to the Manchester Evening News.
The newspaper reports Perspective has hired KPMG to auction off the firm with a price of between £60m and £80m touted.
The deadline for the first round of bids was last Friday, according to the paper.
Shareholders in the firm include Paradigm Partners founder Paul Hogarth and partner Anthony Morrow.
Perspective made a pre-tax loss of £1.9m in 2011 compared to a £113,000 profit in 2010. The firm attributed the losses to an exceptional £1m accounting write-down and £3m of amortisation.
Commenting on these results, managing director Damian Keeling (pictured) said the group was ready for the RDR changeover and would continue to work towards chartered status for all its offices in 2013.
The fim’s assets under management currently stand at around £2.2bn and it employs 230 people across 24 UK offices including around 80 advisers.
Perspective was launched in April 2008 with around £10m backing from private equity firm Mosaic Private Equity and also has funding from Lloyds Banking Group.
Perspective was unavailable for comment.