Perspective Financial Group has acquired Leedham Independent Financial Advisers, marking the consolidation vehicle’s 20th acquisition.
Leedhams was established in 1990 by Barry Leedham. The firm has an annual turnover of over £700,000, with funds under management of approximately £50m. Leedhams gained chartered status in 1997 and has two registered individuals and eight staff in total.
The deal completed at the end of 2010 and saw Perspective end the year with annualised turnover of £17m, funds under advice and management of £1.3bn and recurring income of almost £9m.
Perspective acquired eight firms in 2010 and managing director Damian Keeling says the group plans to purchase 10 firms during 2011.
Keeling says: “This will take total group firm numbers up to 30. We added significantly in terms of staff and expertise last year and our funding lines are in place to achieve this ambition.
“The acquisition team is already in the latter stages of deals with a number of IFA practice owners, which means we are likely to be announcing new members of the group over the next couple of months.”
Leedham adds: “Our clients and the provision of quality advice will continue to be the focus for our operation. With the support Perspective can offer in terms of compliance, financials and income-generation we can ensure we maintain this focus while also benefiting from the economies of scale the group generates.”