Fairstone acquires south-west financial planning adviser

Fairstone Financial Management has continued its acquisitive year with a deal for Bristol and Bath-based financial planning firm Sovereign Wealth Management. The deal sees Fairstone acquire 1,500 clients, eight advisers and gross fee income of £1.25 million.

The move represents Fairstone’s eleventh of the year, all part of its downstream buy-out (DBO) model, through which it acquires a stake in a firm, before integrating the target over a period of around two-years and then completing the purchase.

Fairstone Chief Executive Lee Hartley said: “We are delighted to complete the final acquisition of Sovereign Wealth Management, having worked hand-in-hand with them throughout the integration phase.”

“The team is a strong cultural fit for Fairstone, with high quality individuals who really care and put clients at the heart of what they do.”

Sovereign Wealth Management company principal Marcus Harris added: “I am pleased to have integrated the company with such a forward-thinking and client-focused firm as Fairstone. We look forward to continuing to deliver first-class service to our clients as part of the Fairstone family.”

Regarding the company’s DBO acquisition model, Lee Hartley said: “Our unique downstream buy-out model is continuing to yield impressive results and is attracting a series of high quality firms into our fold.”

Hartley added that the firm was in a “superb position to deliver continued growth” over the coming years.


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