Bringing you live news and features since 2006 

Fairstone Group adds Wales’ DHD Wealth Management

RELATED TOPICS​

Fairstone Group has partnered with DHD Wealth Management in the latest downstream buyout deal to be announced since Fairstone Group received GBP25 million of private equity backing from Synova Capital earlier this year.

DHD Wealth Management is based in Wales with offices in Aberystwyth and Cardigan.
 
Led by Aled Davies, Clive Davies and Denise Jacob, DHD Wealth Management specialises in investment planning, pensions and IHT planning, representing 1450 clients.
 
The deal will boost Fairstone’s total revenue by almost GBP1.5 million, with funds under management rising by approximately GBP207 million. In addition, four advisers and five support staff will join the broader group, adding to its rapidly growing adviser base of over 265.
 
Fairstone Group’s downstream buyout model sees the company take an initial minority stake in an IFA business and over a number of years will integrate the firm into its systems and structure. This helps to minimise Fairstone’s exposure to integration risk and allows the acquired company to profit from their own success upon final acquisition.
 
Advisers joining Fairstone are able to leverage its core technology platform and added value services. This creates greater efficiencies in the back office as well as supporting the acquisition of new clients through SEO and also reactivating dormant clients. Collectively, this allows advisers to spend more time on client related activities. The improvements to the operating models of the IFA businesses which have joined the group have led to growth of around 17 per cent year-on-year in those companies.
 
Lee Hartley, CEO of Fairstone Group, says: “With such a strong focus on providing their clients with first-class service, we knew that DHD Wealth Management would be an excellent fit with Fairstone, both commercially and culturally. We look forward to working with the well-established team there to support their marketing, front and back office and client acquisition strategies in order to help them grow the business further. We are always looking for strong, high quality businesses with ambitious growth plans to join the Fairstone Group.”
 
Aled Davies, principal at DHD Wealth Management, adds: “We joined Fairstone because they are an IFA which has a DFM arm, but does not expect firms such as ourselves to ‘shoe horn’ clients into their proposition. Having looked at many proposals, the Fairstone package appealed because we can ultimately complete this transaction yet continue to service our valued clients with whom we have a long term relationship. The fact that Fairstone will also help us recruit new entrants into the business to expand also appealed.”

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by