MWM is a Lincoln-based IFA firm with a turnover of £500,000 per annum and funds under management of approximately £20m.
With this latest acquisition, Perspective expects its annualised turnover to reach £9m and funds under advice or management to around £500m, with a recurring income of £4.5m.
Perspective expects its earnings before interest, tax, depreciation and amortisation at operating level to be over £3m.
As with all Perspective acquisitions, MWM will continue to trade under its current name with the existing management team remaining at the firm to operate and develop the business.
Perspective managing director Damian Keeling says: “At a time when many other consolidators are retreating from the market, we at Perspective continue to recognise the opportunities that exist for both individual firms and ourselves, and we therefore continue to seek quality IFAs, such as MWM, that share our values and ethos in terms of the provision of quality advice.”
MWM managing director Hugh Wood says: “Becoming part of the Perspective Group certainly adds a considerable amount to the overall MWM proposition and gives us the necessary financial strength and security to help develop the business as we would wish to.”