Perspective acquire Chessman & Partners

Robyn Hall

March 1, 2010

Chessman & Partners was established in 1980 and look after over 6,000 clients.

Currently a partnership, but continuing as a limited company, the directors are Mike Baughan, Keith Jamson and Mike McDonnell.

The business is split into two teams covering Life & Pensions and Capital Investment.

Chessman provides a comprehensive investment and life insurance service for individuals, families, partnerships and companies which covers mortgages, capital investment, pension planning, life assurance, income protection, long-term care and inheritance tax planning.

The firm has a turnover of approximately £800k per annum, with funds under management of £150m and £250k of recurring income.

With this latest acquisition, Perspective’s annualised turnover has been boosted to £12.5 million, funds under advisory and management are increased to over £1,000 million, with a recurring income of £6.2 million.

Damian Keeling, managing director of Perspective Financial Group, said: “We are delighted to welcome the team at Chessman & Partners to Perspective Financial Group as our 14th acquisition since we launched two years ago; bringing Chessman within the Group expands our geographical reach as we continue with our ambitions to build a significant and highly profitable advisory group.

“Firms who join Perspective are not just looking for the up-front payout and security but are also buying in to the overall proposition which can help them develop their range of services and increase their profitability.

“We continue to broaden Perspective’s offering as we cater for the needs of our individual firms.

“An example of this is the recent launch of PFG Corporate Solutions, our specialist division within the Group which provides advice to companies on corporate pension provision and employee benefits, including healthcare and risk management.

“This type of service furthers our commitment to delivering quality advice and ensuring all Group firms are able to take advantage of current market opportunities.

“We are in the process of making a number of new acquisitions and expect to announce a steady stream of new Group firms throughout the year.”

Keith Jamson, director at Chessman & Partners Limited, added: “We are pleased to be joining the Perspective Group which we feel will offer a secure future for our clients and staff.

“We look forward to continuing our long tradition of offering high-quality independent financial advice, backed by the resources of the larger group, but carrying on very much as an autonomous practice with the same high levels of personal service.”

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