The firm now becomes part of Perspective’s Newcastle office, Rutherford Wilkinson, and Vivienne Shepherd will remain as a trading style of the business.
One member of staff, Owen McDowell, from Vivienne Shepherd Ltd will be joining Rutherford Wilkinson as part of the deal to ensure ongoing continuity for clients.
Owner-manager, Vivienne Shepherd, will de-authorise but will remain involved in introducing clients with assets under management totalling over £22 million to Rutherford Wilkinson over the next 12 months.
Perspective worked with IFA sale advisers, Brokers4sale, on the Vivienne Shepherd deal through its Managing Director, Gary Medcraff.
Perspective Financial Group is currently one of the Top 15 UK independent IFA firms by revenue size.
It operates out of 20 offices and employs over 220 people. The Group’s annualised turnover is now in excess of £23 million, with over £2 billion of assets under management.
Damian Keeling, Managing Director of Perspective Financial Group Ltd, commented:
“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.
“Most of our acquisitions involve the IFA practice continuing to operate as normal however in this circumstance it made more sense for the firm to be integrated into our Newcastle hub.
"This is due to the de-authorisation of Vivienne, the size of the practice and the proximity of the two businesses.
“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 £3.5 million from Lloyds Banking Group in order to fund further activity.”
