Acquisitions drive revenue growth for financial advice consolidator
Tue, 18 Jul 2023 | BUSINESS NEWS
Perspective Financial Group Ltd, one of the most active buyers in the financial advice sector’s booming dealmaking market, has recorded increased revenue as a result of both organic and acquisitive growth.
In its accounts for the year to December 31 2022, the company saw its revenue increase from £22.1 million to £26.4 million. However, EBITDA fell from £5.1 million in 2021 to £4.5 million last year, while pre-tax profits fell from £2.8 million to £1.3 million.
Perspective was founded in 2008 and since then has established itself as a major consolidator in the UK’s highly fragmented financial advice sector. Since its founding, the company has completed close to 70 acquisitions, growing from its North West base to now comprise more than 30 UK offices.
Last month, the firm revealed that it has already completed 12 deals so far in 2023, matching its total for the entirety of 2022. At the time, Perspective Chief Executive Ian Wilkinson commented: "We have our biggest ever pipeline of acquisitions, both large and small, and relish the opportunity to continue to grow further at scale and pace.”
The company has also said that it has exchanged contracts on a further seven acquisitions, which are set to be completed over the coming months. In its latest accounts, the firm said that it would continue to execute its “highly selective acquisition strategy", whilst also targeting organic growth opportunities across its expanding network of UK offices.
The financial advice sector is going through an extended period of intense consolidation. Read about the latest trends in financial advice M&A here.
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