Perspective, among the top 15 financial advisory firms in the UK with more than £2.5bn of assets under management, announced this morning it is looking to raise £28m by floating on AIM.
FTI Consulting senior vice-president Ed Berry and senor consultant Tom Blackwell are leading the account.
Perspective was created in 2008 to take advantage of the ‘strategic opportunity’ presented by the implementation of the Retail Distribution Review, which came into effect at the start of this year.
The company explained: ‘RDR has seen a shift in the balance of power in the UK financial advice market away from the manufacturer of the financial product, with adviser remuneration now being determined by charging explicit agreed fees rather than commission paid by the provider.
‘This provides Perspective with a significant opportunity to increase margin through an enhanced service offering, while delivering a reduction to clients' total annual management charge.’
The company added that UK demographics, with an ageing population and reduction in defined benefit schemes, has resulted in increased opportunities for financial advisory firms as individuals are having to take responsibility for their own financial planning and pension provisions.