Consolidator Fairstone Group has acquired IFA Robert Goodman Associates (RGA), marking its fourth acquisition this year.
The transaction adds £70m in funds under management (FUM) and £800,000 in revenue to Fairstone’s books. Six RGA advisers have joined Fairstone as part of the deal.
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The deal follows a two-year integration period within the acquirer’s downstream buyout programme.
RGA, based in Harefield, focuses on providing financial planning advice to its clients including investment and pension planning services.
Commenting on the transaction, RGA IFA company principal Robert Goodman said: “By deepening our existing relationship with Fairstone we can engage with this support further and dedicate more time to our clients at the high level they have come to expect.”
Fairstone said that all the firms integrating with the company registered double digit organic growth annually.
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By GlobalDataFairstone Group CEO Lee Hartley said: “We have always believed that clients should never be commoditised and throughout the acquisition process, clients have remained the priority.”
Last month, Fairstone acquired advice firms Utopia Financial Planning and Sovereign Wealth Management, adding £220m in assets to its portfolio.
