Fairstone, one of the UK’s fastest growing Chartered financial planning firms, has acquired Harefield-based IFA Robert Goodman Associates (RGA). The deal completes the purchase of the firm following a two-year integration period within Fairstone’s downstream buy out (DBO) programme.
This is the fourth outright acquisition the company has made in 2018 as it continues to implement its ambitious growth strategy.
The acquisition brings revenues of GBP800,000 to Fairstone and funds under management of GBP70 million. Six advisers and their support staff have ensured a smooth transition for RGA’s 1,000 clients throughout the process.
RGA offers a full range of financial planning advice including investment and pension planning.
Fairstone’s research shows that partner firms that engage with its integration process achieve on average double digit organic growth per year.
Robert Goodman, company principal at RGA IFA, says: “Since we first partnered with Fairstone in 2016 we have been impressed by how seriously it takes all aspects of client service. Joining and integrating with a larger, reputable and Chartered firm has helped us to strengthen our business whilst allowing us to remain independent and further improve the levels of service to our clients.
“We have enjoyed outstanding support from the Fairstone team. By deepening our existing relationship with Fairstone we can engage with this support further and dedicate more time to our clients at the high level they have come to expect.”
Lee Hartley, CEO of Fairstone Group, adds: “We are delighted to have finalised our fourth full acquisition of 2018 with another leading IFA firm. As a firm, RGA is dedicated to quality service. We have always believed that clients should never be commoditised and throughout the acquisition process, clients have remained the priority.
“All six RGA advisers have a shared ambition to continue to grow the business. As one of the largest Chartered financial planning firms in the UK, Fairstone will bring its marketing support and technology to bear to ensure that RGA can offer their bespoke, whole-of-market advice to an ever-growing client base.”