Perspective Financial Group, the IFA consolidator which has acquired more than 20 businesses since launch, has reported increased earnings and profits in the first half of the year, boosted by a doubling of assets under management (AUM).
The national IFA consolidator's earnings before interest, taxes, depreciation and amortisation (EBITDA) for the six months to 30 June were £2.3m, up 44% on the same period in 2010. This was from total revenues of £8.8m, also up 44%, while assets under management doubled to £2.2bn. Allowing for acquisition costs, interest, amortisation and depreciation, the group, which bought three firms during the period, made a net pre-tax profit of £447,000, up from £113,000 in 2010. Damian Keeling (pictured), managing director of Perspective Financial Group, said: "Following on from our record ...
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