Private equity backed accountancy and professional services group DJH has formed a 50-50 joint venture with Perspective Financial Group, which it says will form part of its plan to achieve £100m revenue by 2028 and break into the UK’s top 20 accountancy firms.
The new venture, sees Chorley-based Perspective will form DJH Perspective Wealth Management, which will give DJH clients access to 200 wealth advisers in retirement, pensions, and protection planning, alongside its existing inheritance tax, trusts, wills, and probate specialists. Expertise in tax-efficient wealth growth and business exit planning will also be available.
Backed by investor Tenzing, Stoke-on-Trent headquartered DJH has 16 offices across England and Ireland, and accelerated its North West expansion with the acquisition of Haines Watts’ Chester, Liverpool and Wirral offices last year, and opened a new office in the centre of Manchester.
As a result of the deal the Stoke-on-Trent-based accountancy firm will grow its turnover to £61.5m, with revenues in the North West surpassing £24m.
Perspective is also an acquisitive aggregator of financial advisory businesses, having most recently bought BLM Partnership Limited, Chiltern Consultancy Limited and Lloyd O’Sullivan Financial Services Limited. All three add to our growing national presence, with offices retained in Oulton, Stokenchurch and East Molesey respectively.
Scott Heath, CEO of DJH, said: “This is a very exciting joint venture for us and creates a full solution offer for both our existing and new clients.
“Perspective Financial Group shares similar values of trust, exceptional service and is completely independent, so not linked to any specific products or packages.
“It’s a 50/50 deal with both sides 100% committed to making DJH Perspective Wealth Management an overwhelming success and a key vehicle to both businesses scaling at the pace we want to.”
The venture provides DJH with national infrastructure through Perspective’s 60+ UK offices and launches its brand into wealth management. It is also designed to be scalable.
Ian Wilkinson, CEO of Perspective Financial Group, added: “This is a very exciting deal for our business, and we are delighted to be joining forces with such a trusted professional service group, resulting in decades of now combined specialised, multi-disciplined experience across a vast range of markets and sectors.
“DJH has a fantastic network of clients, who could all benefit from the wealth management services we provide. Together and by offering a single solution, we firmly believe we’ll add real value.”
