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17 June 2010

Perspective Financial Group Ltd, the consolidation vehicle for IFA firms, has today (17th June 2010) confirmed its third acquisition of 2010 and its 15th in total with the purchase of Wingham Wyatt. The Wilmslow-based consolidator has added to its raft of IFA practices with the purchase of Winghams which is based in Braintree, Essex. Wingham Wyatt is run by Managing Director and principal shareholder, John Kearney, and has 11 members of staff, six of which are registered individual IFAs. Wingham Wyatt was established in 1979 and delivers professional specialised financial services to individuals and businesses throughout South East England. The team have over half a century of experience delivering the following IFA services: estate and inheritance tax planning; offshore investments, financial planning, life assurance, retirement planning and mortgages. The firm has a turnover of approximately £900k per annum, with funds under management of £70 million and £400k of recurring income. With this acquisition Perspective’s annualised turnover increases to over £13 million, funds under advisory and management are increased to £1.2 billion with recurring income now close to £7 million. Damian Keeling, Managing Director of Perspective Financial Group Ltd, commented: “We continue our acquisition strategy with this purchase of Wingham Wyatt, which becomes the 15th IFA firm to come under the Perspective umbrella in just over two years. Regionally Perspective now operates in most UK regions and we continue to look at a range of potential acquisitions which will broaden our spread of businesses across the country. Wingham Wyatt is a perfect fit for Perspective with a strong management team, quality advisers and a focus on delivering a first-class service coupled with strong recurring income. “The acquisition of Winghams is notable because it is an acquisitive business in its own right, having made four small purchases over the last two years. Our intention is to continue to support John’s own purchase activity and to provide our expertise, experience and funding line to Winghams in order to build a significant and substantial regional business hub in the Essex area. We continue to look for profitable and ambitious IFA firms who are themselves seeking financial stability and support, and can recognise the raft of services and overall benefits being part of Perspective can bring. With all businesses we insist the management team stays in place as we work together in growing and developing the firm and we strongly believe that Winghams and other IFA firms like it will continue to blossom within the Perspective Group structure.” John Kearney, Managing Director of Wingham Wyatt, said: “We talked to a number of other consolidator propositions but it soon became apparent that Perspective is the natural fit for our business. We quickly established a rapport with the management team and their whole philosophy of allowing the existing team to continue managing the business and the fact there is minimal change sat particularly well with us. The decision to join Perspective means we are now part of a considerable industry player with all the economies of scale and development potential this brings. It is also clear that Perspective is a fast-growing operation and one which will allow a profitable business such as ours to continue doing what it does best – delivering quality advice to clients - whilst also providing support and a range of ongoing opportunities in order to help us get to where we want to be.” For more information on Perspective Financial Group Ltd, visit: www.pfgl.co.uk For more information on Wingham Wyatt, visit: www.winghams.co.uk ENDS

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