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A Cheshire-based financial advisory business has revealed plans to extend its network of UK offices after securing £3.5 million in funding from its banking partners in Manchester.
The Perspective Financial Group is head-quartered in Wilmslow, Cheshire, and its newly-secured funding deal will see it continue to pursue a strategy of acquiring and consolidating independent financial advisory (IFA) firms in the UK.
Perspective bought a number of small-scale operations in 2011 and has made clear its intention that strategy in 2012. To date, the company has 20 offices nationwide and just over 220 employees.
Bosses at the company welcomed the £3.5 million funding boost secured through Lloyds’ Wholesale Banking and Markets unit in Manchester and said the cash will be used to support organic growth as well as acquisitions.
Managing director Damian Keeling noted that 2012 looks set to be a crucial year for the IFA industry in the UK in light of significant regulatory changes being introduced by the Financial Services Authority at the beginning of next year.
“The continued commitment from Lloyds with this new facility is a further vote of confidence in what we are achieving here at Perspective,” said Keeling.“We presented a three-year business plan to the bank, and its strategic debt team has developed a strong funding package.”
Noel Stubley, a director at the Manchester offices of Lloyds Wholesale, said: “This year will mark a turning point for the IFA sector and Perspective is well placed to overcome the challenges facing the industry and flourish.”
He went on to describe the Cheshire-based financial services firm as being on a “highly positive trajectory” and said that Lloyds remains committed to helping good businesses in the north-west grow their operations.