IFA consolidator Perspective Financial Group has acquired its tenth firm after securing Kent-based Professional Investment Management Services (PIMS).
PIMS, based in Maidstone and founded in 1987, is operated by three directors and turns over £1m a year, with a recurring income of approximately £500k. The company, which specialises in investments and mortgages advice, will retain its brand while directors Glynn Downton, Neil Brenchley and Kevin Mullins will remain in place. Perspective, which earlier this year boosted its acquisition facility to £12.5m, says the deal will not be its last in 2009. "Consolidation should not simply be a numbers game where the focus is only on the number of advisers at a firm," managing director Dami...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes