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February 28, 2019

Fairstone swoops on Pensions and Wealth Management Services

Consolidator Fairstone Group has purchased Pensions and Wealth Management Services (PWMS) for an undisclosed sum.

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PWMS focuses on the management of investment and retirement portfolios. It has one branch in Hertfordshire and West Lancashire each.

The acquisition was carried out under Fairstone’s downstream buy-out (DBO) model.

PWMS company principal David Halsall said: “We felt the Fairstone proposition was quite unique in its construct and provides an outstanding support framework that takes care of all the business quality and regulatory requirements.”

The transaction adds around £200m in funds under management to Fairstone’s books and increases its client base by 400.

A total of four advisers and four support staff from PWMS migrated to Fairstone as part of the deal.

Fairstone CEO Lee Hartley said: “PWMS has a reputation for excellent client service which makes the firm a strong cultural fit with Fairstone.

“This marks a great start to the year and reinforces our intent to partner with the highest-quality firms who share our culture as well as our commitment to ensuring client interests are never compromised as a result of a sale.”

Recent acquisitions by Fairstone

Earlier this month, Fairstone snapped up Norfolk-based Hamlyn Financial Services, Essex-based Andrew Cohen Associates, and Dundee-based Findlay & Company under its DBO programme.

The consolidator also wrapped up the acquisitions of Darlington-based Belasis IFA and Allensons in Wokingham.

 

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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