Consolidator Fairstone has acquired Premier Portfolio Financial Services through its downstream buy-out (DBO) programme.

London-based Premier was set up in 1995, and mainly works in the corporate sector with HNW clients.

Commenting on the deal, Premier company principal Adam Salomon said: “Fairstone offered the opportunity to join a company with world class infrastructure, professionalism and a partnership that puts the interests of our clients first.”

The deal brings £40m in assets and total ongoing fee revenue of £550,000 to Fairstone’s books. A total of four employees will join Fairstone as part of the deal.

Fairstone CEO Lee Hartley said: “Premier Portfolio Financial Services will now be able to take advantage of Fairstone’s support and infrastructure to grow the business without compromising on client service or independence. With our scale and tools behind them, Adam and the team will be in the best possible place to ensure sustainable and ongoing success for their company.”

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