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17 June 2011

Perspective Financial Group Ltd, the Wilmslow-based IFA group, has today (17th June 2011) announced two new IFA firm acquisitions taking the number of Group firms to 22. The Group?s first new acquisitions of 2011 are Lancashire-based Shirebrook Wealth Management (formerly Shirebrook Financial Services), and Austyn James Consulting, based in Beaconsfield, Buckinghamshire. Based in Chorley, Shirebrook was originally established in October 2000 and is run by Managing Director, Martin Sumner, with Director, Steven Moffat, and Company Secretary, Peter Palmer who are joined on the board by Perspective Directors, Phil Carr and Anthony Morrow Shirebrook has 13 staff in total including five registered individuals (RIs) and provides a wide range of financial services for both corporate and individual clients. Shirebrook has an annual turnover of ?1.2 million with approximately ?110 million of funds under management. Austyn James Consulting is an IFA firm headed by Director, Austyn Smith. The firm started trading in September 1996 and specialises in personal wealth management. The firm has five members of staff with Austyn the sole RI; Austyn James Consulting has an annual turnover of ?1.2 million and around ?70 million of funds under management. The addition of Shirebrook and Austyn James to the Group increases Perspective?s annualised turnover to over ?19 million, with over ?6 million EBITDA (earnings before interest, taxes, depreciation and amortisation). Damian Keeling, Managing Director of Perspective Financial Group Ltd, commented: ?The acquisition of Shirebrook and Austyn James takes the number of Perspective Group firms up to 22 and marks our first purchases of 2011. Our main focus this year has been on supporting our firms, ensuring they are well down the road to RDR, and developing the range of opportunities we can offer to them. At the same time, we are still actively looking to add new firms to the Group and we anticipate another four or five purchases will be made during the course of the year. We are not in the business of acquiring firms just for the sake of boosting numbers and any future purchases we make will be based on our model of bringing in quality, profitable, ?new model? firms that have strong recurring income and EBITDA levels. Both Shirebrook and Austyn James are perfect examples of this type of firm and we welcome them both to the Group; we believe they will make a considerable contribution and the Perspective team is already working with both to ensure we can support their propositions and achieve strong, continuous growth.? Martin Sumner, Managing Director of Shirebrook Financial Services, said: ?As a forward-thinking IFA firm we are always looking to the future to ensure the business is best placed for the challenges ahead. With the financial services landscape changing from 2013 we wanted to ensure that we had the best possible support to ensure our own RDR readiness and that we were also working with a partner that could provide a wealth of opportunities for the business and our clients. Perspective certainly fitted the bill in both regards and we are looking forward to working with both the head office team and our fellow Group firms in order to take Shirebrook forward into the new environment. The fact that we can maintain our strong brand and benefit from the wide range of services Perspective offers, means we can continue to deliver the quality service our clients expect, whilst at the same time working on developing the business further.? Austyn Smith, Director of Austyn James Consulting, said: ?Joining the Perspective family provides us with new tools to enhance our services and add greater value to our clients. We chose Perspective as our strategic partner because we are able to maintain our autonomy and our clients will benefit from the efficiencies offered by the Group.? For more information on Perspective Financial Group Ltd, visit: www.pfgl.co.uk ENDS

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