Perspective Financial Group Ltd, the consolidation vehicle for IFA firms, has made a further acquisition with the purchase of Professional Investment Management Services (PIMS).
PIMS becomes the tenth firm to be brought under the Perspective umbrella since the Group was launched in April 2008. The IFA firm is based in Maidstone, Kent and operates with a turnover of £1 million with a recurring income of approximately £500k.
PIMS was established in 1987 and will continue to operate under its current name with the three directors remaining in place to operate and develop the business.
Earlier this year Perspective announced a major refinancing package with Lloyds Banking Group which boosted its acquisition facility to £12.5 million.
Damian Keeling, managing director at Perspective Financial Group Ltd, said: “Our acquisition of Professional Investment Management Services shows Perspective’s continued focus on purchasing profitable IFA firms who add considerable weight to the overall Group and can benefit from the wide range of value-added services we can offer. PIMS is an established firm led by a quality management team who know the value of local professional connections and are renowned for the quality of the advice they provide to clients.