British wealth management and consolidation firm Fairstone has concluded the deal to purchase Sabre Financial, a Devon-based advice company.

Established in 1997, Sabre Financial offers specialised pension and investment services. The firm employs nine advisers and staff to approximately 800 clients.

Completion of the deal has added over £200m to Fairstone’s funds under management (FUM).

It has also enhanced Fairstone’s presence across the nation and increased its total FUM to over £13bn.

Financial details of the deal have not been divulged.

Sabre Financial principal Stuart Read said: “After discussing our objectives with a number of organisations, we felt that Fairstone was the only firm who genuinely understood the reasons behind our success as a financial planning business, and crucially, would support our growth.

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“The proposition really appealed as our clients do not have higher costs forced upon them nor are they obligated to move into different investment solutions.

“This allows us to strive for excellence in the advice market whilst remaining independent.”

In December 2020, Fairstone agreed to buy Sabre Financial under its downstream buy-out (DBO) model, through which the firm bought a stake in Sabre Financial and integrated it over two years before making a final deal.

After joining DBO, Sabre Financial saw 18% surge in its revenue and 6% rise in its client base.

Fairstone CEO Lee Hartley said: “Sabre Financial struck us as a dynamic firm, with an excellent reputation for serving clients over many years, making a great addition to the Fairstone family.

“Bringing Sabre into the group extends our nationwide footprint and the pace of their growth to date demonstrates their alignment with our model.”