View more on these topics

IFA consolidator Perspective up for sale

Damian Keeling

IFA consolidator Perspective Financial Group has put itself up for sale.

Sources say Perspective has hired KPMG to auction off the firm, with a price of between £60m and £80m touted.

Money Marketing understands the deadline for the first round of bids was last Friday.

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 pre-tax profit in 2010. The firm attributed the loss to an exceptional £1m accounting write-down and £3m of amortisation.

The firm’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 unavailable for comment.

Brunning Newman Houghton director David Brunning says: “I do not think there are many firms out there that would be interested in writing a very large cheque to buy Perspective at the moment. If the firm is confident that its business is robust and well-placed then it seems like a strange time to want to sell.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There is one comment at the moment, we would love to hear your opinion too.

  1. On which planet is a loss making business, operating withinh a highly regulated environment, worth £60m?
    Paul Hogarth has just offloaded the Paradigm Network (allegedly following a period of regulatory intrusion) to its biggest AR Firm, and now Perspective is up for grabs at a time when most IFA businesses would be sitting tight. Anyone spot a trend?

Leave a comment

Close

Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm

Email: customerservices@moneymarketing.com