Perspective Financial Group, the UK-based IFA consolidator, has started 2010 with the acquisition of its thirteenth firm, Somerset-based Future Lifestyles. Terms of the deal were not disclosed.

Although Perspective normally retains the existing management of the firms it acquires, Future Lifestyles’ owner is leaving the industry due to ill health, Perspective said in a statement. Future Lifestyles will therefore become part of Charles Reynolds Associates, a subsidiary of Perspective Financial Group which itself was acquired at the end of last year.

“Perspective Financial Group continues to work with IFA firms around the country offering a variety of options in terms of acquisition and exit strategies. We fully expect to make more acquisitions in line with our ongoing strategy in the weeks and months ahead,” said Damian Keeling, Perspective Financial Group’s managing director.

Since its launch in April 2008 Perspective Financial Group has been busily acquiring IFA firms all over the UK. Deals made in the latter half of 2009 included the acquisition of East Sussex-based Platinum Portfolios and Kent-based Personal Investment Management Services.

Perhaps predictably, heightened M&A activity continues apace across the wider financial services industry as firms continue to lick their wounds following the financial crisis. Going forward, many predict that UK IFA businesses are going to be under particular pressure due to factors such as rising costs associated with meeting the requirements of the Financial Services Authority's Retail Distribution Review.