Duo of deals boost growth at Fairstone

Fairstone, one of the UK’s largest Chartered Financial Planning firm, announces another significant step forward in its growth plan with two advice firms joining the Group. The company today confirmed that Octagon Wealth Management and UskVale Financial Planning are to join Fairstone, bringing a total of 17 new advisers and support staff to the wider business. Fairstone services 41,000 private clients with over £7bn in investment and pension assets.

These deals come after the announcement in March that Fairstone had brought 3 advisory firms into  their buy-out programme – Campbell Harrison, Mortgage Find and Pensions & Wealth Management Services, with combined revenues of £3.25m.

Lee Hartley, Fairstone Group CEO, said:

“Since launching in 2008 Fairstone has looked to establish itself as a significant force within the sector. Our national presence is continuing to grow as our portfolio of advisory businesses expands. We have never looked to acquire businesses who want to stand still; it is crucial that the firms that we partner with are high quality and share both our values and aspirations for the future. That means firms who embrace technology and who expect their clients to not be treated like a commodity.”

The latest two firms to join Fairstone are:

Octagon Wealth Management were initially attracted to Fairstone through the appeal of enhanced regulatory support and the backing of a Chartered Firm. Commenting, joint company principals Jon Routledge and Richard Hollington said: “Providing a quality, fully Independent ongoing service to our clients is of paramount importance to us. As we grow, being part of the Fairstone group will enable us to continue to offer our clients the service levels and support that we are so proud of, as well as the peace of mind that as part of the Fairstone group, we have access to in-house specialist advisers in almost every field.

South Wales-based investment and retirement planning specialists UskVale Financial Planning join Fairstone with 800 clients and £100m asset under management. Company principal, Paul Pelopida commented: “We recognised the benefits of becoming part of a leading national IFA. The support we will receive from Fairstone will allow us to concentrate on business development and client relationships whilst Fairstone oversee and manage the compliance and regulatory requirements. Fairstone want businesses with an appetite to grow and combined with our long-standing relationships we will marry well into Fairstone’s customer-centric philosophy.”

Commenting on the latest deals, Hartley added:

“Fairstone has ambitious targets for growth but also for business quality. The addition of two companies of such calibre is an extremely welcome addition that will benefit both Fairstone and most importantly, our combined clients. Our aim is always to offer the very best whole-of-market choice and independent advice. It is my belief that UskVale Financial Planning and Octagon Wealth Management will help us to deliver on these objectives. We have spent considerable time in consultation with both businesses and look forward to helping them realise their full potential.”

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