CBPE makes investment in Perspective Financial Group

CBPE Capital LLP (CBPE) has announced it is making a major investment in Perspective Financial Group Limited (Perspective), following approval from the FCA.

Perspective is a nationwide financial planning and wealth advisory business which operates from 15 offices across the UK employing 180 staff, including 55 highly qualified advisers. It provides impartial, specialist advice for individuals, corporates and trustees on pensions, retirement planning, inheritance tax planning, investments and group risk and business protection matters, often working closely with other professional advisers such as accountants and lawyers.

The group differentiates itself by having a strong and ethical client-centric culture, a robust compliance approach and a clear focus on developing its pipeline of younger adviser talent through its workplace based in-house Training Academy. Perspective’s average adviser age is currently ten years below the industry average.

Perspective has a turnover of £17 million, with £2.8 billion of assets under management. It offers ‘whole of market’ advice, meaning its advice it not limited to certain providers. It advises over 18,000 clients from those of moderate means to ultra-high net worth individuals. Its corporate clients include SMEs and larger companies.

Perspective fully embraces the use of modern digital technology and administrative platforms. It works in partnership with Cambridge Investments Ltd, also part of Perspective, which provides investment management advice to its wealthy advisory clients, including a range of discretionary managed portfolios for given levels of risk.

CBPE is partnering with Perspective’s management who are all re-investing in the business. Together they aim to accelerate Perspective’s expansion, combining continued organic growth with further acquisitions in what remains a highly fragmented market.

Since it was founded in 2008, Perspective has acquired 35 IFA businesses, including four in 2019, opening up new locations and growing existing offices. The group has gained a reputation for being the consolidator of choice for IFAs looking to retire and exit the industry in a sector which continues to be impacted by increasing regulatory and capital burdens.

This investment in Perspective continues CBPE’s successful track record of investing in the financial services industry where it has helped businesses develop into sector leaders. This includes the IPOs of JTC (global administration provider) in 2018 and Xafinity (UK corporate pensions consultancy) in 2017. CBPE’s current portfolio includes investments in Compre (run-off insurance) and Xceptor (technology for financial services).

CBPE also recently announced its investment in Centralis, a corporate services provider, subject to regulatory approval.

Richard Thompson, Director, CBPE, said: “Perspective is a great business with a strong management team, robust compliance approach and a respected and increasingly high-profile brand. We have been hugely impressed with the strength of the team, but also their absolute focus on the client. We believe this quality is key to the success of Perspective. We look forward to supporting management as they deliver on the strategy which combines a continued focus on providing high quality advice to their existing client base, growing organically and making selective acquisitions”.

Ian Wilkinson, Group Managing Director, Perspective said: “CBPE is the right partner for us as we enter the next stage of our development. They have a proven track record in the financial services space and have helped build some great companies. In CBPE we have found a partner that will help us accelerate our growth strategy. We are excited about working together to expand the business and continuing to deliver a quality service to current and new clients”.

The investment was led by Richard Thompson at CBPE with support from Harry Hewlett, Oliver Walton and Ian Moore. CBPE was advised by Zeus Capital (Corporate Finance), Mayer Brown (legals), PwC (financial, tax, regulatory and structuring), LEK (commercial), AJ Gallagher (insurance) and Intechnica (IT).

Perspective vendor shareholders were advised by KPMG Corporate Finance, with DWF’s Manchester office providing legal advice.  /End

For further information please contact:

Ian Wilkinson, Group Managing Director, Perspective Financial Group Ltd, Tel: 0161 244 9759 or Email: ian.wilkinson@pfgl.co.uk

David Hesketh, Group Finance Director, Perspective Financial Group Ltd, Tel: 0161 244 9759  or Email: david.hesketh@pfgl.co.uk

Charles Penn, Group Head of Marketing, Perspective Financial Group Ltd, Tel 0191 217 3343  or Email: charles.penn@pfgl.co.uk

Peter Ogden, Partner, Powerscourt (for CBPE), Tel 020 7549 0997 or  Peter.Ogden@powerscourt-group.com

About Perspective Financial Group Ltd

Perspective Financial Group Ltd is a national financial planning and wealth management group providing whole of market advice to individuals, corporates and trustees. With a network of 15 offices covering the UK, we employ 185 staff and serve over 18,000 clients. Perspective has been listed in the FT’s Top 100 Financial Advisers table since 2011.

For further information visit www.pfgl.co.uk

About CBPE Capital LLP

CBPE Capital is a leading private equity firm with nine funds raised over 30 years. It is currently investing its latest fund, which closed in August 2016 at £459m. Investments are typically made in companies seeking growth or development capital, with an enterprise value of up to £150m.

For further information visit: https://www.cbpe.com/