Fairstone Group, a UK-based chartered financial planning firm, has agreed to acquire Northern Irish advisory firm First Financial Management (NI).
As part of the deal, Lisburn-based First Financial Management has been rebranded as Fairstone NI.
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Fairstone NI will include seven advisers and five support staff, headed by Peter Savage and Sean Larkin. The company, comprising over 500 clients, will offer specialist advice on asset protection, succession planning, pre- and post-retirement planning, corporate solutions as well as tax and estate planning.
In addition, Fairstone NI has also agreed to purchase Carleton Chambers, which marks the first deal of its own ongoing partnership programme.
Under the deal, Carleton Chambers’ Brian Vallely will join Fairstone NI as partner and financial adviser, and will be based in Belfast.
The two acquisitions will add about £1m of revenues to the Fairstone Group and funds under management of £100m.
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By GlobalDataFairstone Group CEO Lee Hartley said: "As a Chartered financial advisory business ourselves, it was very attractive for us to work with another Chartered company as we seek the highest standards of advice across our business. Fairstone NI has an enviable reputation in Northern Ireland and was an excellent cultural fit as well as making sound business sense.
"Our client acquisition tools will enable the team to grow their offering and their business whilst freeing up their time for advisory work. Above all, our new relationship will allow clients to benefit from the marketing, infrastructure and services support that the Fairstone Group offers to its partners."
