Established in 1979, Wingham Wyatt has £70 million ($104 million) in assets under management, an annual turnover of around £900,000 and £400,000 in recurring income. With this acquisition Perspective’s assets under advisory and management have been ramped up to £1.2 billion, its annualised turnover has increased to over £13 million and its recurring income is now close to £7 million.

In addition to John Kearney, managing director and principal, Wingham Wyatt has a roster of eleven staff, six of whom are IFAs.

Rising regulatory costs on independent financial advisors is expected to encourage more mergers and acquisitions in the sector, as smaller firms struggle to meet tougher standards, according to industry figures. IFA consolidators such as Succession Advisory Services and Perspective have snapped up a number of IFA businesses in recent months.

“The acquisition of Winghams is notable because it is an acquisitive business in its own right, having made four small purchases over the last two years. Our intention is to continue to support John’s own purchase activity and to provide our expertise, experience and funding line to Winghams in order to build a significant and substantial regional business hub in the Essex area,” Damian Keeling, managing director of Perspective, said in a statement.

Perspective is continuing to seek “profitable and ambitious IFA firms who are themselves seeking financial stability and support”, Keeling added.

Perspective’s second acquisition of the year, that of Buckinghamshire-based Chessman & Partners, closed at the end of March, bringing an additional £150 million of assets under the Perspective umbrella.