Consolidator Fairstone has acquired Darlington-based Belasis IFA, through its downstream buyout (DBO) programme.

Under the DBO model, Fairstone works with firms for various years to integrate them prior to full takeover.

The deal adds £50m in funds under management and gross fee income of £500,000 to Fairstone’s books.

As part of the deal, five advisers and two support staff from Belasis have migrated to Fairstone. The acquisition also increased Fairstone’s client base by 1,250.

Belasis company principals Stewart Hodgson and Craig Dyball said: “Over the years we have developed a very strong service and investment proposition. As such, we wanted to find a well-established firm with strong ethical standards to support our proposition and help us to build our business, without eroding the high levels of service we provide to our clients.

“Fairstone’s general ethos and philosophy thoroughly enhances this attitude for the benefit of our clients.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Among the services provided by the acquired entity include personal and corporate financial advice, retirement planning, investment portfolio management, equity release mortgages, VCT & EIS investments and protection.

Fairstone CEO Lee Hartley said: “The whole team at Belasis have a shared ambition with Fairstone to further grow their operation and with our support in areas such as client activation, marketing, compliance and regulation, we are able to help partners such as Belasis achieve very significant levels of organic growth.”