Fairstone, a national wealth management, has announced the acquisition of Sacre Associates, a crucial step in the group’s continued growth into the home counties.
Sacre Associates, a major whole-of-market advising firm in Essex for nearly four decades, is known for first-rate service to clients and a flawless regulatory record.
The acquisition accelerates Fairstone’s growth goals for 2023 and lays the groundwork for future deals in the region.
The deal adds £450m in assets under management to the Fairstone group, as well as 1,200 clients served by Sacre’s 12 advisers and 19 support personnel.
Commenting on the deal, CEO of Fairstone, Lee Hartley, said:
“We are delighted to welcome Sacre Associates to the Fairstone family. Their innovative approach, unwavering commitment to exceptional client service and focus on developing internal talent make them the perfect partner for us. We look forward to continuing to work with the team at Sacre, investing both capital and resource into the business, as we continue to increase our footprint across the home counties, an area of high net worth and significant opportunity for expansion. The collective power of Sacre’s local expertise and reputation and our national infrastructure and status will enable us to achieve our shared vision for strategic growth and success.”
Fairstone’s acquisition strategy focuses on partnering with IFA firms that are dedicated to working with them to achieve premium value for business owners while prioritising the well-being of their staff, advisers, and clients.
It values the interests of all stakeholders and allows for ongoing value sharing after the acquisition.
Sacre principal Steve Rainer added:
“Fairstone’s proposition really appealed as our clients do not have higher costs forced upon them nor are they obligated to move into different investment solutions, allowing us to continue to strive for excellence in the advice market while remaining independent. By joining forces with what we see as the leading whole-of-market player in the UK, we will be able to increase the scope and depth of the services we provide for our clients, while at the same time securing and strengthening our long-term relationships with them, future-proofing the business and everyone connected to it.”
Fairstone, has 46 offices in the UK, including a head office in Newcastle and a London city office, and manages £14.5bn in funds under management for over 45,000 wealth clients.