UK-based Perspective Financial Group has continued its acquisition spree with the acquisition of Wiltshire-based Avon Financial Advisers.

The acquisition will add 240 clients and £42m assets under management (AUM) to the portfolio of Perspective Financial.

The deal marks Perspective’s seventh acquisition in the year 2021.

Founded by Stephen Cook in 2011, Avon will now become part of Perspective’s office in Marlborough.

Perspective CEO Ian Wilkinson said: “This acquisition is further evidence of our position of being the ‘acquirer of choice’ for retiring IFAs.

“Avon fits our profile well with many of their client relationships averaging 25 years’ duration and spanning multiple generations.

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“For us, it’s essential the firms we acquire share our client-centric approach as this is absolutely fundamental to our success.”

Concurrently, Cook has decided to retire from Avon.

Cook said: “After just over 45 years in the financial services industry of which 34 years have been spent as a financial adviser, I have decided now is the right time for me to retire.

Commenting on the deal, Cook said: “I came to the view that my clients are now best served by Avon becoming part of a larger firm. I know that Perspective shares my ethos, ethics and client-centric approach.

“A key factor for me was Perspective’s ability to combine the feel of a local firm with the strength of a national one. This means that some of my clients who over the years have moved away from Chippenham, will now be served by a number of Perspective’s offices in other areas of the UK including Newcastle, Braintree, Chorley, Woodstock and Eastbourne,” he added.