Tue, 26 Mar 2024 | BUSINESS SALE
Financial planning consolidator Fairstone Financial Management has completed its latest acquisition with a deal for Nottingham-based IFA James Ryan Thornhill Limited (JRT). The acquisition brings in more than £110 million in assets under management (AUM), 600 clients and a team comprising five financial advisers and seven paraplanners, mortgage advisers and administrative staff.
Following the acquisition, Fairstone Chief Executive Lee Hartley said: "JRT and Fairstone were an excellent match from the outset. I take great pride in Del-Ryan's comments around the value we place on people. This is exactly why our DBO model adds enormous value over and above other acquisition programmes in the sector. We work in partnership during integration stage and embrace the skills and knowledge of the whole team.”
"We only partner with ambitious growth-orientated firms like JRT who are not seeking a quick exit but favour a longer-term partnership beyond acquisition. I am looking forward to seeing the next stage of JRT's growth evolution."
Del-Ryan Rafter, director at JRT, said that the “biggest appeal” of joining Fairstone was that they valued “the ‘human capital’ within the business and by this, I mean our hard-working colleagues who are vital to the day to day running of our firm’s operations.”
The acquisition is the latest in Fairstone’s downstream buyout (DBO) model, which sees the company partner with IFA businesses, providing centralised services, technology and funding, before eventually completing a full acquisition.
This approach has established the company as the leading consolidator in a wave of M&A activity in the UK’s wealth management sector, which remains highly fragmented in spite of years of busy dealmaking. Fairstone has 55 UK locations and oversees approximately £15 billion of funds under management for in excess of 55,000 clients.
Over the past year, 16 companies across the UK and Ireland have joined Fairstone’s DBO programme, along with six additional full acquisitions. The company says that it has a strong M&A pipeline for 2024, with discussions underway with a “significant” number of acquisition targets.
Find out more about Fairstone's DBO model
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.
An exclusive opportunity to acquire a prestigious ultra-high-net-worth independent financial advisory business in Kent, managing £70m in funds under management.
An established Northern Ireland IFA presents a unique opportunity with £500k in recurring revenue and an average client value exceeding £350k, offering a portfolio of highly profitable clients.
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