View more on these topics

Perspective makes £1.9m loss in 2011

Damian Keeling

Perspective Financial Group made a pre-tax loss of £1.9m in 2011 after making a pre-tax profit of £113,000 in 2010.

In its annual results, published last week, the firm says the loss was due to an exceptional £1m accounting write-down and £3m of amortisation.

The firm’s revenues grew 56 per cent to £16.3m in 2011 compared with £11.5m in 2010. There was a 65 per cent jump in the firm’s earnings before interest, taxes, depreciation and amortisation to £4.3m, up from £2.6m.

Perspective acquired five IFA firms in 2011 and grew its assets under management to £2.2bn, up 29 per cent from £1.7bn in 2010.

Managing director Damian Keeling says: “We have achieved significant progress in organic growth and the group continues to acquire excellent practices that perform well within our environment.”

Keeling says the group is ready for the RDR changeover and it will continue to work towards chartered status for all its offices in 2013.

Jacksons Financial Services managing director Pete Matthew says: “Just like the high street banks, the large national firms will find it difficult to offer personal financial services that will be profitable. Large companies are too focused on the mass market.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm