Additions add up to success for finance specialist Fairstone
Chartered Financial Planning specialist Fairstone has added two new business to its portfolio.
Advisory firms Chartermarque and Hammett and Petch Financial Planning have joined Boldon-based Fairstone, bolstering the company’s national footprint and adding a total of £200million funds under management.
Collectively, the deals bring seven new advisers and a team of support staff to the wider business, as well as combined revenues of £1.4million. Fairstone now services 41,000 private clients with more than £7billion in investment and pension assets.
The group’s ambitious growth strategy has seen seven advisory firms join under its downstream buy-out (DBO) programme since the beginning of 2017, most recently securing Octagon Wealth Management.
The DBO strategy enables partner firms to join Fairstone and benefit from its significant growth support and funding before completing the buy-out at the end of an agreed integration period.
Fairstone CEO Lee Hartley said: “We partner with those companies who share our determination that clients should never be treated as a commodity. We believe this should be the foundation of any new business partnership.
“Through our DBO programme, we are always seeking out high quality firms that share our values and from the time spent with the teams at Chartermarque and Hammett and Petch, we knew that they would embrace our vision”
Chartermarque, has offices in Glasgow and London and focuses on pensions, wealth management and financial planning.
Company principal Scott Morton said: “We are absolutely delighted to be joining Fairstone. Its Chartered status confirms that, like us, it abides by the highest professional and ethical standards and it shares our conviction on the importance of independent advice.”