Ian Wilkinson, CEO of Perspective Financial Group
Chloe Shakesby

Darlington financial planning firm acquired by wealth management group

A UK wealth management group has announced that it has acquired a Darlington financial planning firm in its third acquisition of the year.

Perspective Financial Group has acquired Atkinson White Partnership following the two founders’ decision to retire from the business.

Atkinson White Partnership currently advises 500 wealth management clients and manages £130m of client assets.

The office’s current location will remain the same, becoming Perspective’s first Darlington base, and the financial planning and administrative team will transfer across in full.

Ian Wilkinson, CEO of Perspective Financial Group, commented: “This acquisition further strengthens our national network giving us an additional local office in the important Darlington, Teesside and North Yorkshire region.

“It is consistent with our overall growth strategy to open and develop new hub offices in carefully selected locations throughout the UK and acquire quality “bolt on” client banks from retiring IFAs looking to exit the industry. This deal is a combination of both elements.

“We believe our offering for these types of businesses is very compelling with our strong client-centric, whole of market and professional approach providing an excellent home for any vendor’s clients.

“For hub acquisitions, our attractive deal structure allows the vendor to cap any ongoing regulatory liabilities and crystallise significant value whilst still retaining a stake to ensure they share in the future growth of the business.

“We believe our compelling offering is unique in the current market and is highly attractive for all stakeholders – the vendors, the local team and of course the clients. Indeed, it is a deal that I would have selected had it been available when my firm was acquired by Perspective.

“We are inheriting a very capable team of advisers and administrators. As a new office location, we anticipate we will acquire a number of other retiring IFA’s within the area over the next 12-18 months.

“We look forward to working closely with their team over the long term, providing support for the office to grow and prosper with our shared client-centric culture at the heart of everything we do.

“We have an extremely strong acquisition pipeline and expect to complete in excess of 10 deals over the next few months.”

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