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September 27, 2017

Fairstone Group acquires two advisory firms

By Krishna Chaitanya

Fairstone Group, a UK-based chartered financial planning firm, has acquired two advisory firms Chartermarque and Hammett & Petch Financial Planning through its downstream buy out (DBO) programme.

Under the downstream buyout model, Fairstone will take an initial stake in the companies and gradually integrate them into the business at the end of an agreed period.

Chartermarque offers financial planning, pensions, and wealth management services. The firm has offices in Glasgow and London. Based in Bracknell and Milton Keynes, Hammett & Petch focuses on pensions, investment and inheritance planning.

The acquisitions will add around £200m in funds under management and over £1.4m in revenue to Fairstone’s portfolio. A total of seven advisers and a team of support staff have joined Fairstone as part of the deal.

Fairstone CEO Lee Hartley said: “We will help both firms grow in the manner that best fits their plans and the aspirations of the respective management teams – importantly we will be able to assist with the ever increasing regulatory burden.”

Fairstone now serves 41,000 private clients and oversees more than £7bn in assets.

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