Tue, 26 Dec 2023 | BUSINESS SALE
Wealth management consolidator Fairstone Financial Management has continued its acquisitive expansion with a double acquisition. The Sunderland-based firm has acquired Kent-based Bellegrove Mortgage Services and Perthshire-based Next Home, bringing in a total of 22 staff and more than 6,000 clients.
The deals strengthen Fairstone’s offering in the mortgage lending market, which generates around 8 per cent of its total fee income. The takeovers will also provide growth opportunities for the acquired firms, which have been seeking to grow cross-referral opportunities in order to provide a more complete service for their clients.
Fairstone chief executive Lee Hartley commented: "I am delighted to welcome Next Home and Bellegrove to the Fairstone family. Both are client-focused, quality firms who have established an excellent reputation for providing first-class service over many years.”
"They are also very ambitious and are looking to grow and we are delighted to be able to support them on the next stage of their journeys.”
Hartley added: "While we are primarily a wealth management house, the mortgage sector is valuable to us as there is a synergy between the two; every mortgage adviser in the group work with IFAs who can provide wealth advice to their clients and vice versa, providing a complete wealth offering across the business.”
"Our mortgage channel gives us a position of real scale in the market, and we are continuing to invest in this area of the business, leveraging our proprietary technology system and relationships with some of the leading UK lenders, to provide further efficiencies for our clients and advisers in terms of turnaround times and ease of processes."
Read more about wealth management M&A
This is a unique opportunity to acquire a 50% shareholding in a boutique legal firm that provides cutting-edge tech support to the insurance sector, particularly in the Managing General Agent market.
An exceptional opportunity to acquire a well-established offshore survey business, renowned for its comprehensive design, build, and operation capabilities, alongside valuable assets including vessels and equipment.
This well-established West Midlands IFA, managing £200m in funds under management, offers a highly profitable client base with an average household value exceeding £400k.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.