Perspective Financial Group has announced plans to float on the Alternative Investment Market in a bid to raise £28m.
Perspective says admission to Aim will enable it to accelerate its core acquisition strategy and rebalance its capital structure.
Proceeds will principally be used to partially repay existing bank debt and corporate bond holders and to fund the firm’s immediate acquisition pipeline.
Perspective provides whole of market financial advice to approximately 84,000 private clients and around 500 corporate pension clients. It currently has over £2.5bn of assets under management.
It says its growth strategy is founded on purchasing and integrating RDR-compliant adviser firms with high EBITDA margins, recurring income and cash flow and robust compliance standards.
It has made 31 acquisitions to date and has 12 in the pipeline, with terms agreed for six acquisitions and three expected to close during August.
Perspective chief executive Damian Keeling says: “We set up Perspective in 2008, specifically to take advantage of the opportunities in the UK financial advisory market, resulting from the recent introduction of the RDR. Since inception, Perspective has continually delivered strong profitable growth driven by our core acquisition and integration strategy and as the group builds on this momentum, an IPO is the logical next step.”
Evolve Financial Planning director Jason Witcombe says: “The number of listed personal finance companies is pretty modest at the moment so it could be a good opportunity for Perspective.”