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Fairstone adds two new firms to DBO programme


Fairstone, one of the UK’s largest Chartered Financial Planning firms, has signed up two new advisory firms to its downstream buy out (DBO) programme.

Chartermarque and Hammett and Petch Financial Planning have joined the Newcastle-upon-Tyne-based firm, bolstering the company’s national footprint and adding a total of GBP200 million in 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 GBP1.4 million. Fairstone now services 41,000 private clients with over GBP7 billion in investment and pension assets.

Fairstone has seen significant success in its ambitious growth strategy, bringing seven advisory firms into its buy out programme since the beginning of 2017, most recently securing Octagon Wealth Management. The DBO strategy enables partner firms to join Fairstone and plug-in to their significant growth support and funding before completing the buy-out at the end of an agreed integration period.

Lee Hartley, CEO at Fairstone, says: “When we select businesses to work with, client interests always come first. 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.

“We will help both firms grow in the manner that best fits their plans and the aspirations of the respective management teams – importantly we will be able to assist with the ever increasing regulatory burden. One area where this is becoming clearly evident is that, through our ability to manage client portfolios on a low-cost discretionary basis, we are able to help our partners efficiently meet their MiFID II obligations.”


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