IFA consolidator Perspective Financial Advisory Group has acquired Newcastle-based Galloway Whitfield (Life & Pensions) Ltd.
The Perspective chairman is Paul Hogarth (pictured) who is also chief executive of Tatton Asset Management which floated on the AIM market in 2017.
The listed company is made up of the DFM Tatton Investment Management, support service provider Paradigm Consulting and Paradigm Mortgage Service.
Perspective was launched as an IFA consolidator in 2008 and currently has 150 staff and 14 offices across the UK.
Galloway Whitfield (Life & Pensions) will become part of Perspective’s Newcastle upon Tyne-based North East office.
The firm’s managing director Alan Galloway retire after continuing to work with Perspective while clients are transitioned.
Galloway Whitfield (Life & Pensions) has an annual turnover in excess of £300,000 and funds under management of £50 million.
The acquisition is the 32nd Perspective has made since it was launched. The consolidator says it has a further two deals due to complete in the coming months, and anticipates completing a further three acquisitions during 2019.
Ian Wilkinson, Perspective group practice director, says: “This is another significant acquisition for Perspective of a high quality, well-respected IFA firm which will further strengthen our presence in North East England. We were particularly impressed by the quality and longevity of the client relationships that Alan has established over many years.
“Following the re-branding of all our 14 offices under the Perspective brand in June 2018, Galloway Whitfield will immediately be absorbed into our Perspective (North East) operation, which is already one of the most respected IFA operations in the region, with 50 staff including 13 advisers.
“We continue to look at similar high quality acquisition opportunities across the UK to further strengthen our national presence.”