The company, which has over £2.5bn in assets under management, was founded in 2008 with the intent of benefiting from the “opportunities” its directors expected from the implementation of RDR.
Its strategy is to acquire and integrate quality, RDR-compliant, financial advisory businesses with high profit margins, recurring income and cash flow and robust compliance standards, the contintuation of which will be funded by the IPO’s anticipated proceeds of £28m.
Find out what makes your IFA firm a buy target, here…
Since it launched the network has made 31 takeovers and currently has 23 offices around the UK, with approximately 84,000 clients.
The company said it has an unbroken track record of profitable growth since foundation with compound annual EBITDA growth of 67% since 2009.
Perspective added there were another12 acquisitions in the pipeline, with terms agreed for six and three expected to close during August. It has a target of five to six acquisitions per year.
So far, in total it has evaluated 450 businesses, but with strict criteria narrowed its takeover candidates to the 31 businesses it currently boasts.
Chris Giles, non-executive chairman of Perspective, said: ““We believe Perspective’s size and scale, allied to the market opportunity presented by the RDR, presents a significant opportunity for financial advisers and investors alike. The company provides an invaluable service to its thousands of clients and boasts a hugely respected management team with a wealth of industry experience.
“This provides Perspective with a fantastic platform from which it can continue to grow and develop as a business. Now is the right time for the company to IPO and continue its journey with a new base of shareholders.”
Since listing in April 1997 St James’s Place’s share price has risen from 136.5p to its current level of 557p. It has been termed a winner of RDR by some fund managers and since 2009, when the implications of RDR started to sink in, its share price has seen a 244% increase.
Find out who thinks SJP can achieve 25% growth each quarter, here. And how its training academy has been swamped with applicants, here…
