Perspective Financial Group Ltd, the consolidation vehicle for IFA firms, has acquired McGregors Wealth Management (MWM).

This is the eighth firm to be brought under the Perspective umbrella.

MWM is a Lincoln-based IFA firm with a turnover of £500,000 per annum with funds under management of approximately £20 million. It is the second IFA firm to join the Perspective Group within two months.

With this latest acquisition, Perspective’s annualised turnover has been boosted to £9 million, funds under advisory and management are increased to around £500 million, with a recurring income of £4.5 million. Perspective also has an annualised EBITDA (earnings before interest, tax, depreciation and amortisation) at operating level of over £3 million.

As with all Perspective acquisitions, MWM will continue to trade under its current name with the existing management team remaining at the firm to operate and develop the business.

Damian Keeling, managing director at Perspective Financial Group Ltd, said: “We are delighted to announce the acquisition of McGregors Wealth Management &ndash the second IFA practice to join us within the last two months and our eighth Group firm in total. At a time when many other consolidators are retreating from the market