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24 December 2010

Perspective Financial Group Ltd, the consolidation vehicle for IFA firms, has today (24th December 2010) announced its 19th acquisition with the purchase of IFA firm, Equilibrium Wealth Management Ltd. Marlborough-based Equilibrium was established in May 1995 and joins Perspective with immediate effect bringing with it seven registered individuals (RIs) and a total of 16 staff members. Three Directors run the business – Tony Apps, Quentin Tailford and Sally Jones; they will be joined on the Equilibrium Board by Perspective’s Finance Director Phil Carr and Anthony Morrow, who will become the firm’s Company Secretary. Equilibrium specialise in the provision of wealth management advice to both individual clients and companies covering retirement planning, investment and tax planning, as well as employee benefits. The firm has an annual turnover of £1.7 million, with funds under management of approximately £160 million; it also has £444k of recurring income. Perspective fully expect to make one further acquisition before the end of 2010 bringing the number of firms acquired during the last 12 months up to eight. With these acquisitions Perspective’s annualised turnover increases to nearly £17 million, funds under advisory and management are over £1.3 billion with recurring income now £8.5 million. Damian Keeling, Managing Director of Perspective Financial Group Ltd, commented: “The acquisition of Equilibrium Wealth Management again proves Perspective’s focus is on purchasing profitable, well-managed IFA businesses that want to secure their own financial futures whilst at the same time continue to manage and grow their firm with our support. With Equilibrium joining the Group we not only move into a new region but we add considerable breadth and depth to our offering including the addition of seven new RIs. This is our seventh purchase of 2010, and our 19th in total, and we expect to complete a further Group acquisition before the end of the year. We can now rightly claim to be one of the largest IFA operations in the country and, as we move into 2011, our intention is to grow the number of Group firms at the same pace we have pursued over the last two years. Our pipeline of potential acquisitions is strong as we move into next year however we always welcome new enquiries and would urge those firms thinking about their futures and their place within the market and the new RDR environment, to contact us to discuss how we may be able to help and support them.” Tony Apps, Director of Equilibrium Wealth Management Ltd, said: “To have completed the sale of the business just prior to Christmas is a real boost for the firm and all our staff as we break for the holidays and prepare for 2011. Coming back in the new year will certainly be an exciting time for the business as we tap in to all the experience and expertise Perspective, and its other Group firms, can offer. We certainly see our move beneath the Perspective umbrella as a fantastic opportunity to deliver not just financial stability to the firm but to also ensure we have the best support available as we move towards RDR-readiness. The degree of autonomy afforded to us by Perspective also ensures we are in control of our own destiny but backed by a quality organisation that can help us meet all our goals and ambitions in the months and years ahead.” For more information on Perspective Financial Group Ltd, visit: www.pfgl.co.uk For more information on Equilibrium Wealth Management Ltd, visit: www.equilibrium.tppowered.com/

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