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Perspective acquires Charles Reynolds Associates

Perspective Financial Group has announced the acquisition of Charles Reynolds Associates.

The North London firm becomes the eleventh firm to be acquired the consolidators umbrella.

Charles Reynolds operates in the investment, pensions and insurance space as well as offering targeted advice with regard to employee benefits. The firm has a turnover of around £1m per annum with funds under management of £100m and £500k of recurring income.

Perspective says the addition brings its annualised turnover to £11m, with funds under management over £800m and a recurring income of £6m. Earlier this year, the group agreed a major refinancing package with Lloyds Banking Group which bolstered its acquisition pot to £12.5m.

Perspective Financial Group managing director Damian Keeling says: “This is our first acquisition in Greater London and we expect the firm to become a strategic hub for Perspective in that area; to that end we will be looking to add to its client base in the next 12 months. 

“We are also still looking to spread our regional footprint in other areas of the UK, particularly Scotland the Midlands.  While the last couple of months have been an extremely busy time for Perspective in terms of acquisition activity, we still expect to make one further purchase prior to the end of the year and will be announcing this in due course.”

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