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.”