Pivotal Acquires Proper Advice for Specialist Knowledge

Pivotal, a leader in the UK for mortgage and protection advice, has announced the addition of first charge debt consolidation to its repertoire with the latest acquisition of Proper Advice. 

This is another drop in Pivotal’s acquisition strategy, as this marks the 27th acquisition by Pivotal since its founding in 2021.

Pivotal, which has an annual turnover of £115m (US$152m), was launched with the backing of Pollen Street Capital and LSL. 

Speaking to Finance Chief exclusively, Mayank Prakash CBE, CEO of Pivotal, says:

“Debt consolidation is specialist advice, and only a handful of firms in the UK have real depth in it. Proper Advice is one of them. What sets Michael's team apart is how they've paired that expertise with technology, making the journey simpler for clients and helping advisers work more efficiently. 

“That reflects what we value across Pivotal: putting clients first, entrepreneurial drive and a real curiosity about how technology can improve the mortgage journey. It's why Proper Advice is such a natural fit for Pivotal.”

Proper Advice for Pivotal 

Proper Advice, founded in 2018 has “grown significantly” says Pivotal. 

The company became an attractive acquisition target, reaching 4.9 stars as a Trustpilot rating and positive reviews on search engines. 

Proper Advice adopts a “client-obsessed” approach, leading to its positive reputation. It specialises in investment in technology. 

Michael Kallaras, MD of Proper Advice, says: “We’ve built Proper Advice by being obsessed with our clients and investing in our people and systems – something Pivotal understood and appreciated from the outset.

“Together, we have the scale to invest further in the technology and processes that have driven our growth, and we have a shared culture built on putting clients first. Joining Pivotal is the right choice to accelerate growth in our next chapter.”

Customers as central strategy

As part of its customer strategy, Proper Advice has also invested in client journey technology to prioritise a simple, frictionless journey for customers. 

It also benefits advisers, as they experience efficient methods while keeping in line with compliance standards. 

Mayank continues: “Proper Advice has built a genuinely differentiated service in a niche where only a few advisers across UK have real depth, and Michael has done it through a level of entrepreneurial graft that we recognise and value at Pivotal. 

“What has stood out throughout is the team’s entrepreneurial drive and curiosity about how technology can improve the mortgage journey – values we share across all Pivotal teams.”

Pivotal was formed through a joint venture between Pollen Street Capital and LSL for £200m (US$264.8m). 

The buy-to-build strategy aims to unite the UK’s fragmented mortgage advisor market, having originally identified 50 firms to acquire.

Partners:

Pollen Street Capital: Pollen Street Capital: Operating as a London-headquartered private capital asset manager on the FTSE 250, Pollen Street Capital specialises in financial and business services across alternative investment sectors.

LSL Property Services: LSL Property Services stands as a prominent force across the property sector, overseeing the nation's second-largest mortgage network.