The firm now becomes part of Perspective’s Newcastle office, Rutherford Wilkinson, while Vivienne Shepherd will remain as a trading style of the business.
Vivienne Shepherd, owner-manager of the business, will de-authorise but will remain involved in introducing clients with assets under management totalling over £22m to Rutherford Wilkinson over the next 12 months.
Damian Keeling, managing director of Perspective Financial Group, said: “The purchase of Vivienne Shepherd Ltd kicks off our acquisition activity for 2012.
“The Rutherford Wilkinson team in Newcastle has already successfully integrated other practices into their office with the recent acquisition of Walter Wright Financial Services.
“Part of the Vivienne Shepherd deal is the transfer of Owen McDowell to Rutherford Wilkinson which ensures ongoing continuity for its clients.”
Keeling said most of Perspective’s acquisitions involved the IFA practice continuing to operate as normal however in this circumstance it made more sense for the firm to be integrated into their Newcastle hub.
“This is due to the de-authorisation of Vivienne, the size of the practice and the proximity of the two businesses,” he added.
“We were delighted to work particularly closely with Gary Medcraff at Brokers4sale on putting this deal together. We anticipate a number of acquisitions will take place throughout the year and we will be utilising our recently announced refinance facility of £3.5m from Lloyds Banking Group in order to fund further activity.”
