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28 September 2010

Perspective Financial Group Ltd, the consolidation vehicle for IFA firms, has today (28th September 2010) confirmed IFA firm, Warnes Anderton Ltd, as its latest acquisition. It has also acquired the client database and goodwill of IFA firm, Ellam Financial. The addition of Warnes Anderton Ltd by the Perspective Group is its fourth acquisition of 2010 and 16th in total. Warnes Anderton Ltd is based in Dinnington, near Rotherham and is owned and run by IFA Glenn Warnes with three support staff. Warnes Anderton Ltd, which was established in 1992, provides a full range of IFA services to its individual client base. The firm has a turnover of approximately £400k per annum, with funds under management of £35 million and £200k of recurring income. Perspective has also acquired the client database and goodwill of Ellam Financial, an IFA firm based in Boroughbridge, Yorkshire. The business will now become part of Perspective Group firm, Harrogate Independent Financial Services, and an Ellam Financial administrator has been retained to manage the database. This purchase brings with it a further £22 million of funds under management. With these acquisitions Perspective’s annualised turnover increases to approximately £14 million, funds under advisory and management are £1.2 billion with recurring income now £7 million. Damian Keeling, Managing Director of Perspective Financial Group Ltd, commented: “With the acquisition of Warnes Anderton Ltd and the Ellam Financial client database, Perspective has further expanded its reach into the Yorkshire area. With Warnes Anderton we have brought on board a quality IFA outfit which has been providing first-class advisory services to its clients for over 18 years. It is this type of firm that will thrive under the Perspective umbrella and we believe there are a large number of opportunities for firms like Warnes Anderton to access by operating under the Group structure. “Perspective continues to seek out profitable, ambitious IFA firms that have the same management ethos as the Group and are looking to expand and grow in the months and years ahead. We are also open to the purchase of client databases as can be evidenced by the deal completed with Ellam Financial and its integration with Harrogate Independent Financial Services. Part of our support service to Group firms is to help them with their own purchases and this will remain a core part of our offering going forward. “In order to help knit the Group offering together we have recently made a number of appointments in to ensure firms meet their compliance responsibilities, to ensure they are RDR-ready, to develop their marketing capabilities and reach, and to help them benefit from the wealth of combined expertise and experience within the Group. Any IFA firm looking to secure their future while at the same time wishing to continue working and developing their business, should speak to us about the benefits to be had from a relationship with Perspective Group.” Glenn Warnes, owner of Warnes Anderton Ltd, said: “This is clearly an important moment for Warnes Anderton Ltd and we believe we have chosen the strongest and most creative IFA consolidator in the UK. The management team at Perspective share our own work ethos and we were drawn to the hands-off approach coupled with the opportunity to take advantage of the numerous benefits Group membership can offer. We are looking forward to working with the Perspective team to help develop and grow the Warnes Anderton business and to maintain the high standards of professional advice we have been delivering to our client base for almost two decades.” For more information on Perspective Financial Group Ltd, visit: www.pfgl.co.uk ENDS

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