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IFA consolidator Perspective puts itself up for sale

IFA consolidator Perspective puts itself up for sale

IFA consolidator Perspective Financial Group has put itself up for sale.

The group has hired KPMG to hold an auction for the group and expects to raise between £60 million and £80 million according to the Manchester Evening News. The paper also reported that the deadline for the first round of bids was last Friday,

Perspective declined to comment but a spokesman for the group said: 'I can confirm that KPMG are Perspective’s long-standing business consultants and that the backers of Perspective are always looking at options for future growth.'

The group, whose managing director is Damian Keeling (pictured), recently recorded a pre-tax loss of £1.9 million over 2011 despite increases in assets and turnover. That was down from a profit of £113,000 in 2010.

New Model Adviser® understands Paul Hogarth and Anthony Morrow, partners at Paradigm and major shareholders of Perspective, would look to sell their stakes as part of any deal.

New Model Adviser® also understands the group is looking for a private equity business or life company to put a bid in to provide additional resources into the business.

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