Perspective Financial Group has acquired independent financial adviser (IFA) practice Charles Reynolds Associates for an undisclosed sum.

Perspective Financial Group has acquired independent financial adviser (IFA) practice Charles Reynolds Associates for an undisclosed sum.

 
Charles Reynolds is the 11th firm to be acquired by the Perspective Group since it was formed in April 2008. The Hertfordshire-based firm generates a turnover of £1 million, with funds under management of £100 million.

Damian Keeling, managing director of Perspective, said: ‘This is our first acquisition in Greater London and we expect the firm to become a strategic hub for Perspective in that area. To that end we will be looking to add to its client base in the next 12 months.’

The deal will bring Perspective’s funds under management to £800 million. After a refinancing earlier this year, Lloyds Bank increased the group’s acquisition facility to £12.5 million.