Perspective purchases Leedhams
The Bolton-based IFA firm became the latest firm to join the Perspective Group with the deal completing at the end of 2010. Leedhams is a truly family-run business, including four Leedham family members, established by Barry Leedham in June 1990. It is a client-focused IFA operation with two registered individuals and eight staff in total.
In 2007 the firm achieved Chartered Status from the Chartered Insurance Institute becoming one of the first companies in the North West of England to achieve this mark of excellence.
The business is run by its three directors – Barry Leedham, Sue Leedham and Andrew Leedham; they will be joined on the Board by Perspective’s finance director Phil Carr and Anthony Morrow, who will become the firm’s company secretary. The firm has an annual turnover of over £700k, with funds under management of approximately £50 million.
With this acquisition Perspective ended 2010 with annualised turnover in excess of £17 million, funds under advisory and management well over £1.3 billion and recurring income of nearly £9 million.
In 2010 Perspective achieved its target of eight acquisitions during the year and has stated ambitions to purchase a further 10 firms during 2011.
Damian Keeling, managing director of Perspective Financial Group Ltd, commented: “The acquisition of Leedhams was completed at the end of last year meaning that we achieved our stated ambition of eight IFA firm purchases during 2010.
“While the Leedham purchase may have completed our acquisitions for 2010, we are now focused on the new year. As we have previously stated, our business pipeline is strong as we move into 2011 and we anticipate adding a further 10 IFA firms to the group over the next 12 months; this will take total group firm numbers up to 30.”