Hammond McNulty becomes latest Fairstone full acquisition

Fairstone, one of the UK’s largest Chartered Financial Planning firms, today announces that Cheshire-based Hammond McNulty Wealth Management has been fully acquired by the business and marks the first in a series of major acquisition for Fairstone in 2018. Hammond McNulty joined Fairstone’s DBO programme in 2012 and during this period has fully integrated into the Group, taking advantage of Fairstone’s technology, marketing services and financial support to boost revenue and growth prior to completion of the acquisition process.

The deal adds funds under management of approximately £50m and Hammond McNulty hope to grow this figure to £100m in the next 5 years. A total of five staff will also join the Group as part of the deal.

Hammond McNulty offers independent whole-of-market advice, specialising in pensions and IHT planning as well as savings, investments, critical illness, life assurance and mortgages for clients throughout the North West of England.

In the past 12 months, Fairstone has acquired eight fully-integrated firms through the DBO process and anticipates a further nine acquisitions over the course of 2018. The process ensures that at all times the client comes first, meaning that there is never any increase to client charging, no reduction in choice and no product compulsion. At point of acquisition, Fairstone ensure that integration has fully taken place and therefore the transition to the Group is seamless.

Company principal, Mark Pedley, said:

“With MiFid II and GDPR coming into force, we feel confident in Fairstone’s solid structure and the resources which have been made available to meet the challenges of the changing face of the financial services sector.

“We want to make sure that our clients can continue to enjoy the high level of personalised service they have come to expect and in Fairstone we have found a forward-looking partner which we can rely on.”

Lee Hartley, CEO of Fairstone Group, added:

“This marks another significant step in our growth strategy and we are thrilled to have started the year so strongly. Our model ensures businesses are fully integrated before the point of sale, securing a positive impact from the start for quality firms like Hammond McNulty. Our research shows that partner firms which have undergone our DBO integration process enjoy on average 15% organic growth per year.

“Mark has built a team that is completely dedicated to providing the highest levels of service and impartial advice to clients and we are certain the business will continue to do so. We look forward to working with them and helping to grow as part of Fairstone Financial Management.”

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