Based in Lincoln, MWM is an IFA firm with a turnover of £500k per annum with funds under management of approximately £20 million. MWM has a long-term agreement with the McGregors Corporate Group, a leading business services group, which has offices in Lincoln, Derby, Nottingham, Mansfield and Birmingham. MWM becomes the second IFA firm to join the Perspective Group within two months.
With this latest acquisition, Perspective’s annualised turnover has been boosted to £9 million, funds under advisory and management are increased to around £500 million, with a recurring income of £4.5 million. Perspective also has an annualised EBITDA (earnings before interest, tax, depreciation and amortisation) at operating level of over £3 million.
As with all Perspective acquisitions, MWM will continue to trade under its current name with the existing management team remaining at the firm to operate and develop the business.
Damian Keeling, Managing Director at Perspective Financial Group Ltd, commented: “We are delighted to announce the acquisition of McGregors Wealth Management – the second IFA practice to join us within the last two months and our eighth Group firm in total. At a time when many other consolidators are retreating from the market, we at Perspective continue to recognise the opportunities that exist for both individual firms and ourselves, and we therefore continue to seek quality IFAs, such as MWM, that share our values and ethos in terms of the provision of quality advice. MWM are certainly a firm which have these fundamentals at its core and they recognise the value that is on offer by becoming a Perspective Group firm. MWM already has a strong relationship with McGregors Corporate and by becoming part of the Perspective Group, and taking advantage of the range of services we can offer, it will be now be able to develop, grow and meet its stated ambitions for the months and years ahead.”
Hugh Wood, Managing Director of MWM, said: “Becoming part of the Perspective Group certainly adds a considerable amount to the overall MWM proposition and gives us the necessary financial strength and security to help develop the business as we would wish to. Perspective offers a number of key benefits, not least the ability to maintain our brand and for the existing management team to remain in situ and continue to help grow the firm. The Group also come with great expertise and experience, and the provision of, for example, compliance and marketing services, will ensure we have all the help possible to meet our ambitions. We are looking forward to the growth of the relationship and our clients will benefit greatly from MWM being under the Perspective umbrella.”
