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Perspective acquires Equilibrium Wealth Management

IFA consolidation vehicle Perspective Financial Group has today announced its acquisition of Equilibrium Wealth Management Ltd, bringing its total number of firms acquired to 19.

Marlborough-based Equilibrium will join PFG with immediate effect, bringing seven registered RIs and a total of 16 staff members to PFG. It advises both individual clients and companies, with an annual turnover of £1.7m and funds under management of approximately £160m.

PFG says it fully expects to make one more acqusition before the end of 2010, which would bring the number of firms acquired over the last 12 months to eight. Its purchase of Equilibrium increases PFG’s annual turnover to nearly £17m, and takes its funds under advisory and management to over £1.3bn.

PFG managing director Damian Keeling says: “With Equilibrium joining the group we not only move into a new region but we add considerable breadth and depth to our offering including the addition of seven new RIs. We can now rightly claim to be one of the largest IFA operations in the country.”



Mortgage Brain set to acquire TrigoldCrystal

Mortgage Brain has agreed terms to acquire TrigoldCrystal in a deal which could total £9.9m. A default offer of £6.8m has been made or an alternate offer of cash, loan notes and shares totalling around £9.9m. The TrigoldCrystal board has agreed unanimously and it will now be put to shareholders. It is expected the deal […]

Three way split at MPC over inflation continues

The three way split in the monetary policy committee over how to deal with elevated inflation continues, according to the minutes from their last meeting. Released this morning, the minutes from the MPC’s meeting on the December 8th and 9th show external member Adam Posen maintains his call for further quantitative easing while external member […]


FSA cancels Hemdale Financial Management’s permissions

The FSA has cancelled the permissions of Hemdale Financial Management for repeatedly failing to comply with regulatory requirements. On April 16, 2009, the regulator issued a warning notice to Hemdale and then issued a decision notice on November 20, 2009, because the firm failed to meet its requirements. Hemdale failed to pay fees owed to […]

Gartmore sees further outflows in key areas

Gartmore saw outflows in its equity and absolute return ranges last month, coinciding with massive withdrawals from its European absolute return fund. The assets under management of its flagship European select opportunities fund declined from £1.69 billion to £1.5 billion, although the fund lost only 3.6 per cent over the period, according to figures from […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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